INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision C - Deductions for expenditure on environmental impact studies  

SECTION 82BG   PROPERTY USED FOR ELIGIBLE ENVIRONMENTAL IMPACT ACTIVITIES TAKEN TO BE USED FOR THE PURPOSE OF PRODUCING ASSESSABLE INCOME  

82BG(1)   [Property used on or after 12 March 1991 and before 1998/99 year]  

For the purposes of this Act, if property is used by a taxpayer on or after 12 March 1991 and before the taxpayer's 1998-99 year of income for eligible environmental impact activities in relation to an income-producing project of the taxpayer, that use of the property by the taxpayer is taken to be for the purpose of producing assessable income of the taxpayer.

Note:

Subdivision 400-C of the Income Tax Assessment Act 1997 treats property used for eligible environmental impact activities in the 1998-99 year of income or a later year of income as if it were used for the purpose of producing assessable income.

82BG(2)   [Provision re particular use of property]  

Subsection (1) has effect subject to a provision of this Act that expressly provides that a particular use of property is not taken to be for the purpose of producing assessable income.