Income Tax (Consequential Amendments) Act 1997 (39 of 1997)

Schedule 1   Consequential amendments of the Income Tax Assessment Act 1936

173   After subsection 123B(1)

Insert:

(1A) A deduction is not allowable under subsection (1) for the 1997-98 year of income or any later year of income.

Note: Section 330-60 of the Income Tax (Transitional Provisions) Act 1997 converts any capital expenditure to which this Subdivision applies that is undeducted at the end of the 1996-97 year of income into transport capital expenditure incurred by a taxpayer in the 1997-98 year of income.