INCOME TAX ASSESSMENT ACT 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision H - Period of deductibility of certain advance expenditure  

SECTION 82KZMF   PROPORTIONAL DEDUCTION  

82KZMF(1)  
If this section applies to expenditure incurred by a taxpayer in a year of income:


(a) the taxpayer cannot deduct all of the expenditure for the expenditure year; and


(b) instead, the taxpayer can deduct, for each year of income during which part of the eligible service period for the expenditure occurs, an amount worked out using this formula:


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

82KZMF(2)  
This section has effect:


(a) despite section 8-1 of the Income Tax Assessment Act 1997; and


(b) subject to Division 245 of the Income Tax Assessment Act 1997.

82KZMF(3)  
(Repealed by No 90 of 2000)


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