Commonwealth Consolidated Acts

TAX LAWS AMENDMENT (2006 MEASURES NO. 3) ACT 2006 - SCHEDULE 1

Income Tax Assessment Act 1936

1   Subsection 160AAA(1) (at the end of the definition of rebatable benefit )

Add:

  ; or (e)   paid by way of income support to farmers and small business owners affected by Cyclone Larry or Cyclone Monica.

Income Tax Assessment Act 1997

2   Section   13 - 1 (after table item headed "corporate unit trusts")

Insert:

3   Section   13 - 1 (table item headed "social security and other benefit payments")

After:

insert:

4   Application

The amendments made by this Schedule apply to the 2005 - 06, 2006 - 07 and 2007 - 08 income years.