TAXATION LAWS AMENDMENT ACT (NO. 5) 2003 NO. 142, 2003 - SCHEDULE 4 - Foreign dividend accounts

TAXATION LAWS AMENDMENT ACT (NO. 5) 2003 NO. 142, 2003 - SCHEDULE 4

Income Tax Assessment Act 1936

Repeal the paragraph, substitute:

(b) the company incurs expenditure that:

(i) is not an allowable deduction of the company for any year of income (or would not be apart from section 25-90 of the Income Tax Assessment Act 1997 ); but

(ii) would be such a deduction to any extent if section 23AJ of this Act were disregarded; or

The amendment made by this Schedule applies to expenditure incurred on or after 1 July 2002.