Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteIf you have become entitled to a rebate under section 159SA of the Income Tax Assessment Act 1936 , your low rate cap amount for the 2007-2008 income year is, despite subsection 307-345(1) , the total of:
(a) your closing balance for the 2006-2007 income year (worked out under subsection 159SF(2) of that Act); and
(b) the amount by which $140,000 exceeds the upper limit for the 2006-2007 income year (worked out under section 159SG of that Act).
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