Tax Laws Amendment (2005 Measures No. 5) Act 2005 (162 of 2005)
Schedule 3 Consolidation
Part 1 Bad debts
Division 3 Consequential amendments
Income Tax Assessment Act 1997
16 Section 12-5 (table item headed "bad debts")
Omit:
|
debt/equity swaps |
63E, 63F |
|
deduction of a debt that used to be owed to a member of a consolidated group by an entity that used to be a member of the group |
Subdivision 709-D |
substitute:
|
debt/equity swaps |
63E, 63F , 709-220 |
|
deduction of a debt that used to be owed to a member of a consolidated group or MEC group by an entity that used to be a member of the group |
Subdivisions 709-D and 719-I |