SCHEDULES

SCHEDULE 1Abolition of basis periods

PART 3Amendments of other Acts

59Income Tax Act 2007

1

Section 795 (meaning of “post-1 December 2004 loss”) is amended as follows.

2

In subsection (1), in each of paragraphs (a) and (b), omit “the basis period for”.

3

In subsection (2)(b), omit “the basis period for”.

4

Omit subsection (4).