INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Div 16H inserted by No 153 of 1988.
Subdiv C heading amended by No 4 of 1991.
In this Subdivision:
, in relation to the changeover year or a subsequent year of income of a taxpayer, in relation to an amount of eligible gold transport expenditure of the taxpayer, means the deduction actually allowed or allowable for the year in relation to the expenditure under Division 10AAA (other than section 123C ) in its application in accordance with this Subdivision;
(a) is or was incurred by the taxpayer before 1 January 1991; and
(b) is not expenditure of the taxpayer to which Division 10AAA applies but would be expenditure of the taxpayer to which that Division applies if paragraph 23(o) or section 159GZZZB had not been enacted;
(a) in the case of a year of income before the changeover year - the deduction that would be allowable to the taxpayer in respect of the expenditure for the year of income if paragraph 23(o) and sections 123BA , 123BB and 159GZZZB had not been enacted; and
(b) in the case of the changeover year - a proportion of the deduction that, apart from section 159GZZY , would be allowable to the taxpayer in respect of the expenditure for the changeover year, being a proportion ascertained in accordance with the formula:
Pre-1 January part
S 159GZZW inserted by No 153 of 1988.
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