Tax Laws Amendment (2009 Measures No. 4) Act 2009 (88 of 2009)

Schedule 5   Minor amendments

Part 4   Other amendments

International Tax Agreements Act 1953

342   Subsections 16(4) and (5)

Repeal the subsections, substitute:

(4) A rebate, or the sum of the rebates, a taxpayer is entitled to under subsection (2), in respect of income of a year of income, must not exceed the amount of Australian tax payable in respect of the taxpayer's taxable income of that year after all other rebates of, and deductions from, that tax have been taken into account.