Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 3   Amendment of other Acts

Part 1   Amendments commencing at the same time as the Minerals Resource Rent Tax Act 2012 commences

Income Tax Assessment Act 1997

52   Subsection 995-1(1) (definition of base year )

Repeal the definition, substitute:

base year :

(a) for an entitlement to a *tax offset under Subdivision 61-I - has the meaning given by sections 61-430 and 61-450; and

(b) in relation to an income year - has the meaning given by sections 45-320 and 45-470 in Schedule 1 to the Taxation Administration Act 1953; and

(c) in relation to an *MRRT year - has the meaning given by subsection 115-75(3) in Schedule 1 to the Taxation Administration Act 1953.