Income Tax Assessment Act 1936

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

View history reference

 View history note

 Hide history note

History

Div 3 heading inserted by No 172 of 1978.

Subdivision H - Period of deductibility of certain advance expenditure  

View history reference

 View history note

 Hide history note

History

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

SECTION 82KZMF   PROPORTIONAL DEDUCTION  

View history reference

82KZMF(1)    
If this section applies to expenditure incurred by a taxpayer in a year of income:

(a) the taxpayer cannot deduct all of the expenditure for the expenditure year; and

(b) instead, the taxpayer can deduct, for each year of income during which part of the eligible service period for the expenditure occurs, an amount worked out using this formula:

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

82KZMF(2)    
This section has effect:

(a) despite section 8-1 of the Income Tax Assessment Act 1997 ; and

View history reference

(b) subject to Division 245 of the Income Tax Assessment Act 1997 .

View history reference

Note:

Deductions under section 355-205 or 355-480 of the Income Tax Assessment Act 1997 for R & D expenditure are subject to this section (see subsection 8-5(2) and section 355-105 of that Act).

 View history note

 Hide history note

History

S 82KZMF(2) amended by No 93 of 2011, s 3 and Sch 3 items 13 and 14, by omitting " section 73B, 73BA, 73BH, 73QA, 73QB or former section 73Y of this Act or " from para (a) after " despite " and inserting the note at the end, effective 8 September 2011. For application, savings and transitional provisions see note under s 82KZLB .

S 82KZMF(2) amended by No 79 of 2010 , s 3 and Sch 2 item 12, by substituting " the Income Tax Assessment Act 1997 " for " Schedule 2C to this Act " in para (b), effective 1 July 2010.

S 82KZME(2) amended by No 164 of 2007 , s 3 and Sch 11 item 45, by substituting " , 73QA, 73QB or former section 73Y " for " or 73Y " in para (a), effective 25 September 2007. For application provision, see note under s 73B(1AAA) .

S 82KZMF(2) amended by No 170 of 2001.

82KZMF(3)    
(Repealed by No 90 of 2000)

 View history note

 Hide history note

History

S 82KZMF inserted by No 90 of 2000.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.