Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)
Schedule 7 Deductible expenditure and CGT cost bases
Part 2 Amendment of the Income Tax Assessment Act 1997
12 After subsection 110-55(6)
Insert:
(6A) Expenditure does not form part of the reduced cost base to the extent that you choose a *tax offset for it under section 388-55 (about the landcare and water facility tax offset) instead of deducting it.
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