INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
[ CCH Note: The Heritage conservation rebate will be converted into a grants program from 1 July 1999 - see Div 30 of ITAA '97. The new program, announced in the 1999/2000 Federal Budget and named the Cultural Heritage Projects Program, will have a total funding cap of $3.6m for 1999/2000.
The Cultural Heritage Projects Program is a program funded for six years from 1 July 1999. The program is administered by Environment Australia and is open to private owners, legally incorporated not-for-profit organisations and local government authorities.
The program supports the conservation of places of cultural significance - historic and Indigenous heritage. Only historic or Indigenous places on the Register of the National Estate, its Interim list or State heritage registers are eligible for funding. Projects that aim to identify Indigenous Heritage places for appropriate listing or conservation planning may also be supported.]
View history note
Hide history noteIf:
(a) a taxpayer applies to the Minister for a final certificate; and
(b) the Minister considers that the taxpayer and another party, or parties, to any transaction involving the incurring of any of the expenditure mentioned in the application were not dealing with each other at arm's length in relation to the transaction; and
(c) the Minister considers that the amount of the expenditure exceeds the amount that would have been incurred if the parties had been dealing with each other at arm's length in relation to the transaction;
the Minister must, for the purposes of section 159UO , disregard the excess.
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