INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Div 10 heading substituted by No 57 of 1990. Div 10 substituted by No 60 of 1968.
Subdiv A heading inserted by No 57 of 1990.
A person may elect that this section shall apply in respect of expenditure on a unit of plant incurred in the year of income, and any further expenditure on that unit of plant incurred in a subsequent year and, where such an election has been made, expenditure to which the election applies shall be deemed not to be allowable capital expenditure for the purposes of this Subdivision or expenditure referred to in section 122J .
S 122H(1) amended by No 101 of 1992, by No 57 of 1990 and No 108 of 1981.
The year of income to which an election under this section relates shall be the first year of income in which the taxpayer incurs, in relation to the unit of plant to which the election relates, expenditure that, but for the election, would be allowable capital expenditure or expenditure referred to in section 122J .
S 122H amended by No 101 of 1992, No 108 of 1981 and inserted by No 60 of 1968.
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