New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

360   Subsection 995-1(1) (definition of capital allowance )

Repeal the definition, substitute:

capital allowance means a deduction under:

(a) Division 40 (capital allowances) of this Act; or

(b) Subdivision B of Division 3 of Part III of the Income Tax Assessment Act 1936 (development allowance); or

(c) Part XII of that Act (drought investment allowance); or

(d) Division 10BA of Part III of that Act (Australian films); or

(e) Division 10B of Part III of that Act (copyright in Australian films); or

(f) section 73B of that Act (research and development).