INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history noteWhere by this Act it is provided that any deduction shall be made successively from 2 or more classes of income, the deduction shall be set off against the income of the first of those classes, and if it exceeds the income of that class the excess shall be set off against the income of the second class, and so on until either the deduction or the income of the last of those classes is exhausted.
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