Income Tax Assessment Act 1936

Div 3 heading inserted by No 172 of 1978.

S 79DA repealed by No 143 of 2007 , s 3 and Sch 1 item 37, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after 24 September 2007. For savings provisions, see note under s 559A . S 79DA formerly read:

SECTION 79DA TAX LOSSES NOT DEDUCTIBLE FROM FOREIGN INCOME UNLESS TAXPAYER SO ELECTS  
79DA(1)
A tax loss is not allowable as a deduction from a taxpayer's assessable foreign income (as defined in section 160AFD ) of the year of income, except so far as the taxpayer so elects.

79DA(2)
An election must be made on or before the day of lodgment of the taxpayer's return of income for the year of income, or within such further period as the Commissioner allows.

S 79DA inserted by No 39 of 1997.

Archived:

S 79E to 81 repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 89, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive . S 81A was repealed in 1956 and has also been archived.