New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1997
190 Section 12-5 (table item headed 'timber')
Repeal the item, substitute:
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timber |
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death of owner of land carrying trees, deduction of the part of land cost attributable to trees |
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disposal of land carrying trees, deduction of the part of land cost attributable to trees |
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felling trees, deduction of cost of land attributable to trees felled or of cost of right to fell trees |
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see also capital allowances |
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