Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)

Schedule 3   Capital allowances

Income Tax Assessment Act 1997

50   At the end of section 43-140

Add:

(2) This Division applies to an entity as if the entity used property for the *purpose of producing assessable income if the entity uses the property for:

(a) *environmental protection activities; or

(b) the environmental impact assessment of a project;

unless a provision of this Act expressly provides that that use is not for the purpose of producing assessable income.