Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

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History

Div 3 heading inserted by No 172 of 1978.

Subdivision H - Period of deductibility of certain advance expenditure  

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History

Subdiv H, comprising s 82KZL to s 82KZO, inserted by No 95 of 1988.

SECTION 82KZMD   BUSINESS EXPENDITURE AND NON-BUSINESS EXPENDITURE BY NON-INDIVIDUAL  

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82KZMD(1)    
(Repealed by No 169 of 1999)

82KZMD(2)    
For each year of income containing all or part of the eligible service period for the expenditure, the taxpayer may deduct the amount worked out using the formula:

Expenditure   ×

Number of days of eligible service period           in the year of income           Total number of days of eligible service period

Note:

This section does not apply to expenditure incurred by a small or medium business entity unless the entity chooses to apply this section to the expenditure: see paragraph 82KZMA(2)(b) .

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S 82KZMD amended by No 92 of 2020, s 3 and Sch 3 item 22, by substituting " small or medium business entity unless the entity " for " small business entity unless the small business entity " in the note, effective 1 January 2021 and applicable in relation to expenditure incurred on or after 1 July 2020.

S 82KZMD amended by No 80 of 2007 , s 3 and Sch 3 item 102, by inserting the note at the end, applicable in relation to the 2007-08 income year and later income years.

S 82KZMD inserted by No 169 of 1999.

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