Tax and Superannuation Laws Amendment (2016 Measures No. 2) Act 2017 (15 of 2017)

Schedule 4   Miscellaneous amendments

Part 2   Other amendments of principal Acts

Income Tax Assessment Act 1997

42   Subsection 40-630(1) (paragraph (a) of the note)

Repeal the paragraph, substitute:

(a) if section 250-150 applies - you are taken not to be using the land for the purpose of carrying on a primary production business, or a business for the purpose of producing assessable income from the use of rural land (except a business of mining and quarrying operations), to the extent specified under subsection 250-150(3); or