New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1997
276 Subsection 110-55(6A)
Repeal the subsection, substitute:
(6A) Expenditure does not form part of the reduced cost base to the extent that you chose a *tax offset for it under the former section 388-55 (about the landcare and water facility tax offset) instead of deducting it.
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