Income Tax Assessment Act 1936
View history note
Hide history noteTo the extent that a loss or outgoing (within the meaning of section 51 of this Act or section 8-1 of the Income Tax Assessment Act 1997 , as appropriate) incurred by the transition taxpayer before the transition time is in respect of:
(a) services rendered; or
(b) goods provided; or
(c) the doing of any other thing;
at or after the transition time, the loss or outgoing is treated for the purposes of this Act as having been incurred at the time the services were rendered, the goods were provided or the thing was done, as the case requires.
57-20(2)
To the extent that a loss or outgoing (within the meaning of section 51 of this Act or section 8-1 of the Income Tax Assessment Act 1997 , as appropriate) incurred by the transition taxpayer at or after the transition time is in respect of:
(a) services rendered; or
(b) goods provided; or
(c) the doing of any other thing;
before the transition time, the loss or outgoing is treated for the purposes of this Act as having been incurred before that time.
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