Tax Law Improvement Act 1997 (121 of 1997)

Schedule 11   Capital allowances for primary producers and some land-holders

Part 2   Consequential amendment of the Income Tax Assessment Act 1997

26   Paragraph 43-70(2)(f)

Repeal the paragraph, substitute:

(f) expenditure on property for which a deduction is allowable, or would be allowable if the property were for use for the *purpose of producing assessable income, under:

(i) Division 330 of this Act or Division 10, 10AAA or 10AA of Part III of the Income Tax Assessment Act 1936 (all of which deal with mining and/or quarrying); or

(ii) section 73A of the Income Tax Assessment Act 1936 (Expenditure on scientific research); or

(iii) Subdivision 387-A of this Act or section 75D of the Income Tax Assessment Act 1936 (both of which allow deductions for capital expenditure to prevent land degradation); or

(iv) Subdivision 387-B of this Act or section 75B of the Income Tax Assessment Act 1936 (both of which allow deductions for capital expenditure on facilities to conserve or convey water); or

(v) Subdivision 387-G of this Act or section 124F or 124JA of the Income Tax Assessment Act 1936 (all of which allow deductions for capital expenditure on forestry roads and/or timber mill buildings); or