INCOME TAX ASSESSMENT ACT 1936

SCHEDULE 2D - TAX EXEMPT ENTITIES THAT BECOME TAXABLE  

Division 57 - Tax exempt entities that become taxable  

Subdivision 57-J - Capital allowances and certain other deductions  

SECTION 57-90   57-90   POST-TRANSITION DEDUCTIONS - ASSUME THAT THE TRANSITION TAXPAYER HAD NEVER BEEN EXEMPT  


In working out the transition taxpayer ' s allowable deductions under a modified deduction rule for the transition year or a later year of income, assume that the modified deduction rule had applied at all times before the transition time as if the transition taxpayer ' s income had never been exempt from income tax.

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