Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-50 - CLIMATE CHANGE  

Division 420 - Registered emissions units  

Subdivision 420-C - Disposing of registered emissions units etc.  

SECTION 420-42   Deduction for expenses incurred in ceasing to hold a registered emissions unit  

420-42(1)    
You can deduct expenditure to the extent that you incur it in ceasing to *hold a *registered emissions unit.

Timing

420-42(2)    
You deduct the expenditure in the income year in which you cease to *hold the *registered emissions unit.