Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 6   Loss carry back consequential amendments

Part 1   Concepts and definitions

Income Tax Assessment Act 1997

5   Subsection 35-15(2)

Omit "so much of your *net exempt income as is not applied for that income year under section 36-10 or 36-15 (about tax losses)", substitute "your *net exempt income for that year (after *utilising the net exempt income under section 36-10 or 36-15 (about tax losses))".