INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Subject to the application of any deduction limiting provision, a taxpayer is entitled under Division 10 , in its application in accordance with this Subdivision, to only a proportion of any deduction that, apart from this section and before the application of any deduction limiting provision, would be allowable to the taxpayer for the changeover year in respect of an amount of eligible gold mining expenditure incurred by the taxpayer, being a proportion ascertained in accordance with the formula:
Post-31 December part
Post-expenditure part |
where:
Post-31 December part means the number of days in the part of the changeover year occurring after 31 December 1990; and
Post-expenditure part means:
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