Tax Laws Amendment (2006 Measures No. 1) Act 2006 (32 of 2006)

Schedule 2   Business related costs

Part 1   Capital allowances amendments

Income Tax Assessment Act 1997

18   At the end of section 35-55 (after the note)

Add:

(2) The Commissioner may decide that the rule in subsection 35-10(2B) does not apply to a *business activity for an income year if the Commissioner is satisfied that it would be unreasonable to apply that rule because special circumstances of the kind referred to in paragraph (1)(a) of this section prevented the activity from starting.

Note: This subsection is intended to provide for a case where a business activity would have begun to be carried on and satisfied one of the tests if it were not for the special circumstances.