Commonwealth Consolidated Acts Commonwealth Consolidated Acts
Income Tax Assessment Act 1997
1 Section 12 - 5 (table)
Insert in its appropriate alphabetical position, determined on a letter - by - letter basis:
United Medical Protection Limited support payments
........................................................................................................... | 25 - 105 |
2 Before Division 26
Insert:
25 - 105 Deductions for United Medical Protection Limited support payments
(1) You can deduct an amount that you pay for the income year in which you pay it to the extent that it consists of a * United Medical Protection Limited support payment.
(2) A United Medical P r otection Limited support payment is an amount payable under Division 1 of Part 3 of the Medical Indemnity Act 2002 .
(3) You cannot deduct an amount under this section if you can deduct it under any other provision of this Act.
3 Subsection 995 - 1(1)
Insert:
"United Medical Protection Limited support payment" has the meaning given by section 25 - 105.
4 Application
The amendments made by this Schedule apply to amounts paid on or after 1 July 2003.