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-F - Telephone lines  

SECTION 387-410 (ARCHIVE)   Disregarding deductions under section 70 of the Income Tax Assessment Act 1936  

387-410(1)    
In applying subsection 387-410(1) of the Income Tax Assessment Act 1997 to work out whether you can deduct an amount under Subdivision 387-F of that Act for your expenditure, disregard any amount that you have deducted, or can deduct, for that expenditure under section 70 of the Income Tax Assessment Act 1936 .

Note:

This ensures that you can deduct amounts under Subdivision 387-F of the Income Tax Assessment Act 1997 for the 1997-98 income year and later income years, even if you did or can deduct amounts for your expenditure under section 70 of the Income Tax Assessment Act 1936 for one or more income years before the 1997-98 income year.

387-410(2)    
Disregard an amount deducted or deductible for any income year under section 70 of the Income Tax Assessment Act 1936 for capital expenditure on a part of a telephone line by an entity that worked on installing that part, when applying subsection 387-410(2) of the Income Tax Assessment Act 1997 to work out whether you can deduct an amount under that Subdivision.

Note:

This helps prevent deductions by different entities for capital expenditure on the same part of a telephone line.