INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 16H - Termination of gold mining exemptions  

Subdivision C - Division 10AAA  

SECTION 159GZZY   159GZZY   PROPORTIONATE DEDUCTION FOR CHANGEOVER YEAR  
A taxpayer is entitled under Division 10AAA , in its application in accordance with this Subdivision, to only a proportion of any deduction that, apart from this section, would be allowable to the taxpayer for the changeover year in respect of an amount of eligible gold transport expenditure incurred by the taxpayer, being a proportion ascertained in accordance with the formula:


Post-31 December part
Post-expenditure part

where:

Post-31 December part means the number of days in the part of the changeover year occurring after 31 December 1990;

Post-expenditure part means:

  • (a) if the expenditure is incurred before the changeover year - the number of days in the changeover year; or
  • (b) if the expenditure is incurred in the changeover year - the number of days in the period from the beginning of the day on which the expenditure is incurred until the end of the changeover year.

  •  

    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.