Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)

Schedule 1   New foreign income tax offset rules

Part 4   Consequential and other amendments

Income Tax Assessment Act 1936

28   After section 6CA

Insert:

6D Some tax offsets under the 1997 Assessment Act are treated as credits

A tax offset under a provision of the Income Tax Assessment Act 1997 that corresponds to a provision of this Act that provides for a credit is taken to be a credit for the purposes of this Act.

Note: All other tax offsets under the Income Tax Assessment Act 1997 are treated as rebates: see section 160ADA.