Tax Laws Amendment (2007 Measures No. 5) Act 2007 (164 of 2007)

Schedule 10   Streamlining concessions for Australian films and Australian film production

Part 3   Repeal of Divisions 10B and 10BA

Income Tax Assessment Act 1997

83   Subsection 995-1(1) (definition of film loss )

Repeal the definition, substitute:

film loss has the meaning given by section 36-40.

Note: Section 701-30 (rules about where an entity is not a subsidiary member for the whole of an income year) may affect a film loss.