New Business Tax System (Simplified Tax System) Act 2001 (78 of 2001)
Schedule 3 Deducting prepayments
Income Tax Assessment Act 1936
4 Paragraph 82KZM(1)(b)
Repeal the paragraph, substitute:
(b) the expenditure is not excluded expenditure; and
(ba) either:
(i) the eligible service period for the expenditure is longer than 12 months; or
(ii) the eligible service period for the expenditure is 12 months or shorter but ends after the last day of the year of income after the one in which the expenditure was incurred; and
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
