Income Tax Assessment Act 1997
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Hide history noteSECTION 208-125 Exempting surplus and deficit 208-125(1)
An entity ' s *exempting account is in surplus at a particular time if, at that time, the sum of the *exempting credits in the account exceeds the sum of the *exempting debits in the account. The amount of the exempting surplus is the amount of the excess.
208-125(2)
An entity ' s *exempting account is in deficit at a particular time if, at that time, the sum of the *exempting debits in the account exceeds the sum of the *exempting credits in the account. The amount of the exempting deficit is the amount of the excess.
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