INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Where the amount of tax that would, apart from this section, be payable by a taxpayer (not being a company other than a company in the capacity of trustee) in respect of income of the 1991-92 year of income exceeds the amount of tax that would be so payable by the taxpayer in respect of income of that year of income if:
(a) section 24BB had not been enacted; and
(b) section 24BA had applied in relation to that year of income;
the taxpayer is entitled, in the taxpayer's assessment in respect of income of that year of income, to a rebate of tax of an amount equal to 50% of the amount of the excess.
160ACE(2) [Exception]This section does not apply to an assessment under subsection 98(3) or (4) .
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