Document ID: chunk:federal_register_of_legislation:C2010C00576:clause:3_50
Version: federal_register_of_legislation:C2010C00576
Segment Type: clause
Provision Reference: sch 3 cl 50
Character Range: 52069–52586

50  Subsection 6‑15(2) (note)
Repeal the note, substitute:

Note: If an amount is exempt income, there are other consequences besides it being exempt from income tax. For example:
  *   the amount may be taken into account in working out the amount of a tax loss (see section 36‑10);
  *   you cannot deduct as a general deduction a loss or outgoing incurred in deriving the amount (see Division 8);
  *   capital gains and losses on assets used solely to produce exempt income are disregarded (see section 118‑12).