Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 393.40

    If a farm management deposit was made with an FMD provider as a result of a request under section   25B of the Loan (Income Equalization Deposits) Act 1976 , as in force on 21   February 2005, then:

  (a)   subsections   393 - 40(1) to (4) of the Income Tax Assessment Act 1997 apply as if the day the deposit was made was the day on which the deposit was originally made under the Loan (Income Equalization Deposits) Act 1976 ; and

  (b)   subsection   393 - 40(6) does not apply to the deposit.

Note:   The Loan (Income Equalization Deposits) Act 1976 was repealed on 22   February 2005.

Table of sections

410 - 1   Application of section   51 - 43 of the Income Tax Assessment Act 1997