Income Tax (Transitional Provisions) Act 1997

5 Application of amendments  
(1)
The amendment applies in relation to expenditure incurred on or after 12 May 2004.

(2)
That amendment does not apply to expenditure incurred by an entity to acquire an IRU if:

(a) the IRU was acquired by the entity before 12 May 2004; and

(b) the entity becomes a member of a consolidated group or MEC group on or after that day; and

(c) because of subsection 701-55(2) of the Income Tax Assessment Act 1997 , the IRU is taken to have been acquired on or after that day.

(3)
However, if:

(a) an entity incurs expenditure on or after 12 May 2004 relating to an IRU (the new right ) granted to the entity on or after that day for a cable system; and

(b) before that day, the entity had another IRU (the earlier right ) to use that cable system;

then, to the extent (if any) that the new right covers the level of capacity over that cable system that the earlier right covered, the amendment made does not apply to so much of the expenditure as is reasonably attributable to that level of capacity.