New Business Tax System (Consolidation and Other Measures) Act (No. 1) 2002 (117 of 2002)
Schedule 1 Consolidation: assessable income and deductions spread over several membership or non-membership periods
Income Tax Assessment Act 1997
1 At the end of subsection 701-30(3)
Add:
; and (c) so that each relevant item is either:
(i) allocated to only one of the non-membership periods or to a period that is all or part of the rest of the income year; or
(ii) apportioned among such periods (for example, by Subdivision 716-A (see note to this subsection)).
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