Tax Laws Amendment (2005 Measures No. 2) Act 2005 (78 of 2005)
Schedule 3 Deducting expenditure on telecommunications rights
Part 1 IRUs
Income Tax (Transitional Provisions) Act 1997
4 After section 40-45
Insert:
40-47 IRUs
(1) Division 40 of the new Act does not apply to an IRU to the extent to which expenditure on the IRU was incurred at or before 11.45 am, by legal time in the Australian Capital Territory, on 21 September 1999 (the IRU time ).
(2) Division 40 of the new Act does not apply to an IRU over an international telecommunications submarine cable system if the system had been used for telecommunications purposes at or before the IRU time.
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