INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Where the Commissioner is satisfied that:
(a) a contract or arrangement was entered into by a taxpayer before 1 October 1980 in pursuance of which the taxpayer was to expend capital moneys in producing, or by way of contribution to the cost of producing, a film (in this subsection referred to as the original film );
(b) on or after that date and before 13 January 1983, the taxpayer entered into a contract (whether with the same or another person) in pursuance of which the taxpayer was to expend capital moneys in producing, or by way of contribution to the cost of producing, the original film or another film;
(c) the expenditure by the taxpayer of some or all of the capital moneys that were to be expended in pursuance of the contract referred to in paragraph (b) was to be in lieu of the expenditure by the taxpayer of some or all of the capital moneys that were to be expended by the taxpayer in pursuance of the contract or arrangement referred to in paragraph (a); and
(d) the taxpayer entered into the contract referred to in paragraph (b) for the purpose, or for purposes that included the purpose, of obtaining a deduction under this Subdivision,
the Commissioner may refuse to allow a deduction under this Subdivision to the taxpayer in respect of capital moneys expended by the taxpayer in pursuance of the contract referred to in paragraph (b).
View history note
Hide history noteWhere the Commissioner is satisfied that:
(a) a contract or arrangement was entered into by a taxpayer before 13 January 1983 in pursuance of which the taxpayer was to expend capital moneys in producing, or by way of contribution to the cost of producing, a film (in this subsection referred to as the original film );
(b) on or after that date, the taxpayer entered into a contract (whether with the same or another person) in pursuance of which the taxpayer was to expend capital moneys in producing, or by way of contribution to the cost of producing, the original film or another film;
(c) the expenditure by the taxpayer of some or all of the capital moneys that were to be expended in pursuance of the contract referred to in paragraph (b) was to be in lieu of the expenditure by the taxpayer of some or all of the capital moneys that were to be expended by the taxpayer in pursuance of the contract or arrangement referred to in paragraph (a); and
(d) the taxpayer entered into the contract referred to in paragraph (b) for the purpose, or for purposes that included the purpose, of obtaining a deduction under this Subdivision in accordance with section 124ZAFA ,
the Commissioner may, for the purposes of the application of this Subdivision in relation to the capital moneys expended by the taxpayer in pursuance of the contract referred to in paragraph (b), treat that contract as if it had been entered into on the date on which the contract referred to in paragraph (a) was entered into.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
