Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 7   Deductible expenditure and CGT cost bases

Part 2   Amendment of the Income Tax Assessment Act 1997

12   After subsection 110-55(6)

Insert:

(6A) Expenditure does not form part of the reduced cost base to the extent that you choose a *tax offset for it under section 388-55 (about the landcare and water facility tax offset) instead of deducting it.