Tax Law Improvement Act (No. 1) 1998 (46 of 1998)
3 Company bad debts
3 Consequential amendment of the Income Tax Assessment Act 1936
17 After subsection 63E(5)
Insert:
(5A) Subdivisions 165-C, 166-C and 175-C of the Income Tax Assessment Act 1997 apply to an allowable deduction under this section in respect of the whole or part of a debt that is extinguished, in the same way as they apply to a debt (or part of a debt) that is written off as bad.
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