Income Tax (Transitional Provisions) Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

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History

Div 40 inserted by No 77 of 2001.

Subdivision 40-F - Primary production depreciating assets  

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Subdiv 40-F inserted by No 77 of 2001.

SECTION 40-525  

40-525   Amounts deducted for water facilities  

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The reference in subsection 40-555(1) of the new Act to a person having deducted or being able to deduct an amount under Subdivision 40-F of the new Act for expenditure on a water facility includes a reference to the person having deducted or being able to deduct an amount for it under:

(a) Subdivision 387-B of the former Act; or

(b) former section 75B of the Income Tax Assessment Act 1936 .

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S 40-525 amended by No 101 of 2006 , s 3 and Sch 2 item 811, by amending the reference to a repealed inoperative provision in para (b), effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 40-525 inserted by No 77 of 2001.

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