Taxation Laws Amendment Act (No. 1) 2001 (72 of 2001)

Schedule 2   Arrangements treated as a sale and loan and limited recourse debt

Part 3   Consequential amendments: limited recourse debt

Income Tax Assessment Act 1936

63   After subsection 160ZJA(2)

Insert:

(2A) The reference in paragraph (1)(c) to an amount that has been allowed or is allowable as a deduction does not include an amount allowed under Division 243 of the Income Tax Assessment Act 1997.