Income Tax Assessment Act 1936


Division 57 - Tax exempt entities that become taxable  

Subdivision 57-J - Capital allowances and certain other deductions  


In working out the transition taxpayer ' s allowable deductions under a modified deduction rule:

(a) assume that the transition taxpayer did not, at any time, make any election or declaration, or give any notice, under the rule in relation to a year of income before the transition year; and

(b) any election or declaration (other than one under former subsection 124ZADA(1) ) the transition taxpayer makes, or any notice the transition taxpayer gives, under the rule in relation to the transition year has no effect in so far as it relates to expenditure incurred before the transition time.


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