New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 3 Taxation Laws Amendment Act (No. 1) 2001
Taxation Laws Amendment Act (No. 1) 2001
2 Subsection 240-7(2)
Repeal the subsection, substitute:
(2) If the property is not trading stock, the notional buyer may be able to deduct amounts for the expenditure under Division 40 (about capital allowances)".
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