Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 25.40

    Section   25 - 40 (Loss from profit - making undertaking or plan) of the Income Tax Assessment Act 1997 applies to a loss arising in the 1997 - 98 income year or a later income year, even if the undertaking or plan was entered into, or began to be carried on or carried out, before the 1997 - 98 income year.