Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)

Schedule 1   New foreign income tax offset rules

Part 5   Application

223   Application and transitional rules for section 802-40 of the 1997 Act

(1) The amendments made by items 179 to 181 apply in relation to income years starting one year later than the first income year (the transitional year ) covered by item 222.

(2) Section 802-40 of the Income Tax Assessment Act 1997 has effect in relation to the transitional year as if section 160AF of the Income Tax Assessment Act 1936 had not been repealed.