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 387-190 (ARCHIVE)   Deduction for destruction of a horticultural plant first used for commercial horticulture before 1998-99 income year  

387-190(1)    
Section 387-190 of the Income Tax Assessment Act 1997 applies in relation to a horticultural plant first used (or held ready for use) for commercial horticulture before the 1998-99 income year and destroyed in that income year or later, as if sections 387-165 and 387-185 of that Act had applied to assessments for income years before that income year.

Note:

Section 387-190 of the Income Tax Assessment Act 1997 allows a deduction for the destruction of a horticultural plant with an effective life of 3 years or more. This deduction is additional to the deduction for the plant under section 387-165 of that Act.

387-190(2)    
This section has effect despite section 387-160.