Income Tax Assessment Act 1997
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Hide history noteSECTION 245-157 245-157 How expenditure is reduced - diminishing balance deductions
Any amount applied in reduction under section 245-145 of an expenditure of yours is taken to have been deducted by you in respect of the expenditure before the *forgiveness income year, if the amount you could deduct, apart from this Subdivision, in respect of the expenditure is a percentage, fraction or proportion of an amount that is worked out after taking into account any amount previously deducted by you in respect of the expenditure.
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