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
86 Subsection 995-1(1) (definition of net assessable film income )
Repeal the definition, substitute:
net assessable film income for an income year is your *assessable film income for that year reduced by your *film deductions for that year.
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