Division 3 - Deductions  

Subdivision B - Development allowance  


82AC(1)   [Deduction not to exceed remainder]  

The amount of the deduction, or the total of the amounts of the deductions, allowable under this Subdivision to a taxpayer, being a leasing company, in respect of a year of income, in relation to a unit of eligible property that is, or units of eligible property that are, leased to another person or other persons, shall not exceed the amount (if any) that remains after deducting from the assessable income of the taxpayer of the year of income all allowable deductions other than:

(a) deductions allowable under this Subdivision or Subdivision BA in relation to a unit or units of property leased by the taxpayer to another person or other persons; or

(aa) deductions allowable under Part XII in relation to an item or items of drought mitigation property leased by the taxpayer to another person or persons; or

(b) deductions allowable under section 79E , 79F , 80 , 80AAA or 80AA .

82AC(2)   [No operation from 1997/98 year onwards]  

This section does not apply to the 1997-98 year of income or a later year of income.


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