Taxation Laws Amendment (Self Assessment) Act 1992 (101 of 1992)

SCHEDULE 1   AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936 TO REMOVE REQUIREMENTS TO LODGE ELECTIONS

*   Subsection 57AK(9)

Omit all the words after "a unit of property", substitute "must be made on or before the date of lodgment of the return of income of the taxpayer for the first year of income in which depreciation calculated in accordance with this section would, but for subsection (8), be allowable to the taxpayer in respect of the unit of property, or before such later date as the Commissioner allows.".