Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)

Schedule 1   New foreign income tax offset rules

Part 4   Consequential and other amendments

Income Tax Assessment Act 1997

140   Section 36-10 (note 1)

Repeal the note, substitute:

Note 1: Some deductions are limited so that they cannot contribute to a tax loss. See section 26-55 (Limit on certain deductions).