Income Tax Assessment Act 1936
(Repealed by No 169 of 1999) 82KZMD(2)
For each year of income containing all or part of the eligible service period for the expenditure, the taxpayer may deduct the amount worked out using the formula:
Number of days of eligible service period
in the year of income
Total number of days of eligible service period
This section does not apply to expenditure incurred by a small business entity unless the small business entity chooses to apply this section to the expenditure: see paragraph 82KZMA(2)(b) .
[ CCH Note: S 82KZMD will be amended by No 92 of 2020, s 3 and Sch 3 item 22, by substituting " small or medium business entity unless the entity " for " small business entity unless the small business entity " in the note, effective 1 January 2021 and applicable in relation to expenditure incurred on or after 1 July 2020.]