Tax Law Improvement Act 1997 (121 of 1997)

Schedule 12   Miscellaneous

Part 2   Amendment of the Income Tax Assessment Act 1936

15   Subsection 124ZZJ(5)

Repeal the subsection, substitute:

(5) Expenditure is taken not to be establishment expenditure in respect of the establishment of a horticultural plant to the extent to which the expenditure:

(a) is qualifying expenditure within the meaning of Division 10D of this Act; or

(b) is part of a pool of construction expenditure within the meaning of Division 43 of the Income Tax Assessment Act 1997.

Note: Those Divisions deal with buildings, structural improvements and other capital works.