S 160AQZK repealed by No 89 of 2000, s 3 and Sch 3 item 99, applicable to assessments for the 1999/2000 and later years of income. S 160AQZK formerly read:
DEDUCTION ALLOWABLE
160AQZK(1)
An amount calculated in accordance with subsection (2) is allowable as a deduction from the taxpayer's assessable income of the year of income.
160AQZK(2)
The amount allowable as a deduction is the lesser of $2,500 or the amount worked out using the formula:
Total rebates - $2,000 + Deducted amount
where:
deducted amount
is the amount deducted under paragraph
160AQZJ(2)(b)
.
total rebates
means the total of the amounts of the rebates of tax calculated under paragraph
160AQZJ(2)(a)
.
S 160AQZK inserted by No 93 of 1999.