Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Current HansardDownload Current Hansard   

Previous Fragment    Next Fragment
Thursday, 15 June 1989
Page: 4080

Senator WATSON(11.50) —The words are `in the year of income'.

Senator Walsh —What line are you quoting?

Senator WATSON —Clause 276 on page 14 states:

. . . the clawback amount is allowable as a deduction from the assessable income of the fund of the notice year.

I am saying that people are being denied a deduction under the clawback provision simply because the notice goes in next year rather than this year. I am concerned about the operation of the clawback provisions in relation to the current year. As I see it, there is no way that that notice can come in within the current year.