Taxation Laws Amendment Act (No. 3) 1998 (47 of 1998)

Schedule 9  

Part 3   Application and transitional

16   Transitional - provisional tax for the 1998-99 income year

In working out your provisional tax for the 1998-99 income year under Division 3 of Part VI of the Income Tax Assessment Act 1936, it is to be assumed that:

(a) Subdivision 61-A of the Income Tax Assessment Act 1997 had applied to your assessment for the 1997-98 income year; and

(b) subitems 15(1) and (2) had applied for that income year (as well as the 1998-99 income year); and

(c) any tax offset under that Subdivision were worked out for the 1998-99 income year disregarding Steps 2 and 4 of the method statement in subsection 61-55(2) of that Act (which deal with certain superannuation contributions).