Tax Law Improvement Act (No. 1) 1998 (46 of 1998)

5   Horticultural plants (new Subdivision 387-C)

3   Consequential amendment of the Income Tax Assessment Act 1936

6   Before Subdivision A of Division 10F of Part III

Insert:

Subdivision AA - Application

124ZZEA This Division does not apply after 1997-98 year of income

An amount is not deductible under this Division for a year of income after the 1997-98 year of income.

Note: Subdivision 387-C of the Income Tax Assessment Act 1997 allows deductions for the 1998-99 year of income and later years of income for capital expenditure relating to the establishment of a horticultural plant (including expenditure incurred before the 1998-99 year of income - see Subdivision 387-C of the Income Tax (Transitional Provisions) Act 1997).