Tax Laws Amendment (2005 Measures No. 2) Act 2005 (78 of 2005)

Schedule 1   Simplified imputation system

Income Tax Assessment Act 1997

1   Subsection 205-70(2) (steps 1 and 2 of the method statement)

After "Then", insert ", subject to subsection (5) (which relates to a*private company's first year of tax liability),".