Division 3 - Deductions  

Subdivision A - General  


53I(1)   [Limited application of s 54 to 62AAV]  

Sections 54 to 62AAV (inclusive) do not apply to the 1997-98 year of income or later years of income except to the extent they are applied under the Income Tax (Transitional Provisions) Act 1997 .


The provisions of Division 42 of the Income Tax Assessment Act 1997 apply instead.

53I(2)   [Continuing application re special depreciation on trading ships]  

However, the provisions mentioned in subsection (1) continue to apply for the purposes of the operation of section 57AM for the 1997-98 year of income and later years of income.

53I(3)   [Firearms surrender arrangements]  

Also, the provisions mentioned in subsection (1) continue to apply for the operation of subsection 59(2AAA) for the 1997-98 year of income and for later years of income in which proceeds are derived as a result of firearms surrender arrangements.


Firearms surrender arrangements has the meaning given by subsection 6(1) .


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