Clause 39
Amendment of section 37F
of Income Tax (Amendment) Bill
BillNot in forceProvision 39 of 73
Clause 39
Section 37F of the principal Act is amended by inserting, immediately after subsection (1), the following subsection:“(1AA) No transfer may be made under subsection (1) of —
(a)
any allowance made to the individual for the year of assessment 2016 or a subsequent year of assessment; or
(b)
any loss incurred by the individual in the basis period for the year of assessment 2016 or a subsequent year of assessment.”.