Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)
Schedule 5 Consolidation
Part 9 Inherited deductions
Income Tax Assessment Act 1997
116 At the end of section 711-35
Add:
(3) Subsection (2) does not cover a deduction under section 43-15 (which relates to *undeducted construction expenditure) if, because of section 701-40 (the exit history rule), the leaving entity is taken to have *acquired the asset to which the deduction relates at or before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 1997.
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