“This outdated section about reduced deficit debits was removed from tax rules in 2010”
This section of the law, called ‘Meaning of reduced deficit debit’, used to be part of the Income Tax Act 2007. However, it is no longer in effect. The government removed this section on 1 July 2010. This means that you don’t need to worry about what a ‘reduced deficit debit’ means anymore, as it’s not part of the current tax rules.
