INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 387 - Capital allowances for primary producers and some land-holders  

Subdivision 387-C - Establishing horticultural plants  

SECTION 387-175 (ARCHIVE)   Saving of determinations specifying periods for effective life  

387-175(1)    
A determination in force under section 124ZZL of the Income Tax Assessment Act 1936 immediately before 1 July 1998 also has effect for the purposes of Subdivision 387-C of the Income Tax Assessment Act 1997 on and after that day as if it were a determination under section 387-175 of the Income Tax Assessment Act 1997 .

Note:

Section 124ZZL of the Income Tax Assessment Act 1936 and section 387-175 of the Income Tax Assessment Act 1997 allow the Commissioner to make a determination specifying a period that an entity can adopt as the effective life of a horticultural plant.

387-175(2)    
Anything done in relation to the determination under that Subdivision also has effect for the purposes of Division 10F (Deduction for capital expenditure incurred in establishing horticultural plants) of Part III of the Income Tax Assessment Act 1936 .