INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Sections 54 to 62AAV (inclusive) do not apply to the 1997-98 year of income or later years of income except to the extent they are applied under the
Income Tax (Transitional Provisions) Act 1997
.
Note:
The provisions of Division 42 of the Income Tax Assessment Act 1997 apply instead.
53I(2) [Continuing application re special depreciation on trading ships]However, the provisions mentioned in subsection (1) continue to apply for the purposes of the operation of section 57AM for the 1997-98 year of income and later years of income.
53I(3) [Firearms surrender arrangements]Also, the provisions mentioned in subsection (1) continue to apply for the operation of subsection
59(2AAA)
for the 1997-98 year of income and for later years of income in which proceeds are derived as a result of firearms surrender arrangements.
Note:
Firearms surrender arrangements has the meaning given by subsection 6(1) .
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