Tax and Superannuation Laws Amendment (2014 Measures No. 4) Act 2014 (110 of 2014)

Schedule 5  

Part 4   Other amendments of principal Acts

Income Tax Assessment Act 1997

115   Paragraph 709-185(1)(c)

Repeal the paragraph, substitute:

(c) an amount (the joining entity’s excess ) of the offset remains after applying section 63-10 (about the tax offset priority rules) to the joining entity’s basic income tax liability for that income year.