Taxation Laws Amendment Act (No. 3) 1992 (98 of 1992)
Part 2 AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936
Division 11 Amendments relating to development allowance
62 Before section 82AA
Before section 82AA of the Principal Act the following section is inserted:
Object
"82AAAA.(1) The object of this Subdivision and the Development Allowance Authority Act 1992 is to provide tax incentives for investment in large Australian projects which cost $50 million or more and meet certain other criteria.
"(2) The tax incentive takes the form of an allowable deduction, which may be referred to as development allowance.
"(3) The main deduction provision is section 82AB.".
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