INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-B - Core provisions  

SECTION 40-85 (ARCHIVE)  

40-85   Excess deductions  
You can deduct any amount of new EPE (see sections 330-30 and 330-35 of this Act) you have at the end of your 2000-01 income year, reduced by the total of the relevant amounts (see subsections 330-30(4) and 330-35(4) of this Act) for an earlier applicable year (see subsections 330-30(3) and 330-35(3) of this Act).