INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
This section does not allow a deduction for the 1998-99 year of income or a later year of income.
Subdivision 400-B of the Income Tax Assessment Act 1997 allows deductions for the 1998-99 year of income and later years of income for allowable environment protection expenditure.
Subject to this Subdivision, allowable environment protection expenditure incurred by a taxpayer on or after 19 August 1992 is an allowable deduction for the year of income in which the expenditure is incurred.82BK(2) Section 51 limits apply.
A provision of this Act that expressly prevents or restricts the operation of section 8-1 of the Income Tax Assessment Act 1997 applies in the same way to this section.
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