Taxation Laws Amendment Act (No. 2) 1993 (Repealed) (18 of 1993)

PART 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 5   Development allowance

22   Application

(1) The amendment made by section 20 applies to expenditure incurred by a taxpayer:

(a) in respect of the acquisition of a unit of property under a contract entered into after 26 February 1992; or

(b) in respect of the construction of a unit of property where the construction commenced after 26 February 1992.

(2) The amendment made by section 21 applies in relation to assets acquired after 26 May 1993. For that purpose, subparagraph 82AF (2) (a) (i) of the Principal Act is taken always to have been as amended by section 20.