Taxation Laws Amendment (Self Assessment) Act 1992 (101 of 1992)

PART 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

16   Losses and outgoings

Section 51 of the Principal Act is amended by omitting subsection (5) and substituting the following subsection:

"(5) Expenditure incurred in the year of income that consists of interest under section 170AA or 207A is an allowable deduction.".