Income Tax Assessment Act 1936

Part XI repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. No 114 of 2010, Sch 1 item 95 contains the following saving provisions:

95 Saving of regulations relating to stock exchanges  
95
Despite the repeal of the definition of approved stock exchange in section 470 of the Income Tax Assessment Act 1936 by item 37 of this Schedule, regulations made for the purposes of that definition that were in force immediately before this item commences continue in force on and after that commencement as if those regulations had been made for the purposes of the definition of approved stock exchange in the Income Tax Assessment Act 1997 as inserted by item 81 of this Schedule. 96 Saving of elections relating to foreign hybrids  
96
Despite the repeal of subsection 485AA(1) of the Income Tax Assessment Act 1936 by item 37 of this Schedule, elections made under that subsection continue to have effect on and after the commencement of this Schedule as if that repeal had not happened.

Part XI inserted by No 190 of 1992.

Div 18 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading.

Subdiv D repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading.

S 571 repealed by No 114 of 2010, s 3 and Sch 1 item 37, applicable in relation to the 2010-11 year of income for a taxpayer and later years of income. For saving provisions, see note under Part XI heading. S 571 formerly read:

SECTION 571 NOTIONAL DEDUCTIONS - INTEREST IN PARTNERSHIP LOSS  
571(1)
If:

(a) the FIF was a partner in a partnership at the end of an accounting period of the partnership; and

(b) that accounting period of the partnership ends in the relevant period;

the interest of the FIF in a partnership loss of the partnership of that accounting period is, subject to section 574 , a notional deduction from the notional income of the FIF of the relevant period.

571(2)
For the purposes of subsection (1):

(a) a partnership has a partnership loss in relation to an accounting period of the partnership if the amount of the deductions that, if the partnership were a FIF and that accounting period were a notional accounting period, would be notional deductions under this section from the notional income of the FIF of that period exceeds that notional income; and

(b) the excess is taken to be the amount of that partnership loss.

S 571 inserted by No 190 of 1992.