The amount to show at C item P10 on your schedule is your later year amount for prepayments made in the 2000-01 income year.
Work out your later year amount as follows:
Step 1
2000-01 income year prepayment (refer to part A) × (number of days of eligible service period in the 2000-01 income year ÷ total number of days of eligible service period)
This is your expenditure year amount and is deductible in 2000-01.
Step 2
Deduct the amount at step 1 from your 2000-01 income year prepayment.
Step 3
Write this amount at C item P10 of your schedule. This is your later year amount which may be eligible for transitional treatment.
Note: Prepaid expenses incurred under a tax shelter arrangement after 1.00pm (by legal time in the ACT) on 11 November 1999 must not be included in this total of later year amounts. This is explained in more detail in Part F.