INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision H - Period of deductibility of certain advance expenditure  

SECTION 82KZMD   BUSINESS EXPENDITURE AND NON-BUSINESS EXPENDITURE BY NON-INDIVIDUAL  

82KZMD(1)  
(Repealed by No 169 of 1999)

82KZMD(2)   [Calculation of expenditure]  

For each year of income containing all or part of the eligible service period for the expenditure, the taxpayer may deduct the amount worked out using the formula:


Expenditure   ×   Number of days of eligible service period
          in the year of income          
Total number of days of eligible service period

Note:

This section does not apply to expenditure incurred by a small business entity unless the small business entity chooses to apply this section to the expenditure: see paragraph 82KZMA(2)(b) .


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