Former s 124ZAG repealed by No 164 of 2007, s 3 and Sch 10 item 41, effective 1 July 2010. S 124ZAG formerly read:
SECTION 124ZAG EXPENDITURE OF CONTRIBUTIONS
124ZAG(1)
Where:
(a)
but for this section and sections
124ZAL
and
124ZAM
, an amount (in this subsection referred to as the
relevant amount
) would be taken for the purposes of this Division to have been expended by a taxpayer by way of contribution to the cost of producing a film; and
(b)
the whole of the relevant amount is not expended in producing the film;
the following provisions have effect:
(c)
where no part of the relevant amount was expended in producing the film
-
no part of the relevant amount shall be taken for the purposes of this Division to have been expended by the taxpayer;
(d)
where part only of the relevant amount was not expended in producing the film
-
the relevant amount shall be reduced by that part of the relevant amount that was not expended in producing the film.
124ZAG(2)
Where:
(a)
but for this section and sections
124ZAL
and
124ZAM
, an amount (in this subsection referred to as the
relevant amount
) would be taken for the purposes of this Division to have been expended by a taxpayer by way of contribution to the cost of producing a film; and
(b)
the whole or a part of the relevant amount is included in an amount that was withdrawn from a film account opened in relation to the film and was not, upon withdrawal, dealt with in the prescribed manner;
the following provisions have effect:
(c)
where the whole of the relevant amount was included in the amount withdrawn from the film account
-
no part of the relevant amount shall be taken for the purposes of this Division to have been expended by the taxpayer;
(d)
where part only of the relevant amount was included in the amount withdrawn from the film account
-
the relevant amount shall be reduced by that part of the relevant amount that was so included.
History
S 124ZAG(2) inserted by No 14 of 1983.
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