Taxation Laws Amendment Act (No. 3) 1992 (98 of 1992)
Part 2 AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936
Division 5 Amendments relating to debts
28 Loss resulting from bad debt etc. not to be taken into account in certain circumstances
Section 80F of the Principal Act is amended by adding at the end the following subsections:
"(2) Where a part of a debt is written off as bad, subsection (1) applies as if the part were an entire debt that is written off as bad.
"(3) This section has the same effect in relation to an allowable deduction under section 63E in respect of the whole or part of a debt that is extinguished as it has in relation to an allowable deduction under section 51 or 63 in respect of the whole or part of a debt that is written off as bad.".
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