• Current year amount

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    The current year amount is that part of your prepayment that relates to the thing to be done within the income year in which you incur the expenditure (the expenditure year). This amount is calculated as follows:

    Expenditure

    X

    number of days of eligible service period in the expenditure year
    total number of days of eligible service period

    The current year amount is immediately deductible in the income year in which the prepayment is incurred.

    Last modified: 18 Jun 2002QC 27429