Taxation Laws Amendment Act (No. 3) 1992 (98 of 1992)

Part 2   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 8   Amendments relating to deductions for capital expenditure on traveller accommodation

40   Qualifying expenditure

Section 124ZB of the Principal Act is amended:

(a) by omitting from paragraphs (1)(a) and (2)(a) "in Australia" (wherever occurring);
          

(b) by omitting paragraph (1)(c) and substituting the following paragraph:
          

"(c) either:

(i) the building or the extension, alteration or improvement, as the case may be, commenced to be constructed after 21 August 1979 and before 18 July 1985 and construction of the building or of the extension, alteration or improvement, as the case may be, has been completed; or

(ii) the building or the extension, alteration or improvement, as the case may be, commenced to be constructed after 26 February 1992 and construction of the building or of the extension, alteration or improvement, as the case may be, has been completed;";

(c) by omitting paragraph (2)(b) and substituting the following paragraph:
          

"(b) either:

(i) the building or the extension, alteration or improvement, as the case may be, commenced to be constructed after 21 August 1979 and before 18 July 1985 and construction of the building or of the extension, alteration or improvement, as the case may be, has been completed; or

(ii) the building or the extension, alteration or improvement, as the case may be, commenced to be constructed after 26 February 1992 and construction of the building or of the extension, alteration or improvement, as the case may be, has been completed;".