A New Tax System (Pay As You Go) Act 1999 (178 of 1999)

Schedule 2   Running balance accounts, general interest charge and related matters

Part 3   Fringe benefits tax

Fringe Benefits Tax Assessment Act 1986

115   Subparagraph 52(1)(ba)(ii)

Omit all the words and sub-subparagraphs from and including "allowable", substitute "allowable as a once-only deduction other than a foreign income deduction to the recipient under either of those Acts in respect of so much of that consideration as was taken into account for the purposes of section 48, 49, 50 or 51 of the Income Tax Assessment Act 1936, or section 4-15 or 8-1 of the Income Tax Assessment Act 1997, if that consideration had been incurred and paid by the recipient at the comparison time".