Document ID: chunk:federal_register_of_legislation:C2004C01244:clause:3_115
Version: federal_register_of_legislation:C2004C01244
Segment Type: clause
Provision Reference: sch 3 cl 115
Character Range: 87864–88355

115  After subsection 37(3)
Insert:

 (4) SMEC cannot deduct in the 1997-98 income year or a later income year a tax loss incurred in an income year ending before the income year in which the sale day occurs.

 (5) This section has effect despite anything and, in particular, Division 36 and Subdivision 195-A of that Act.

 (6) Unless the contrary intention appears, an expression has the same meaning in subsection (4) as in the Income Tax Assessment Act 1997.

Social Security Act 1991