Tax Laws Amendment (2008 Measures No. 2) Act 2008 (38 of 2008)
Schedule 8 Capital expenditure for the establishment of trees in carbon sink forests
Part 1 Income years 2007-08 to 2011-12
Income Tax Assessment Act 1997
5 After subsection 40-630(2B)
Insert:
Exception: deduction available under Subdivision 40-J
(2C) You cannot deduct an amount under this Subdivision for capital expenditure if any entity can deduct an amount for that expenditure for any income year under Subdivision 40-J.
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