INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteThis section does not allow a deduction for the 1998-99 year of income or a later year of income.
Note:
Subdivision 400-B of the Income Tax Assessment Act 1997 allows deductions for the 1998-99 year of income and later years of income for allowable environment protection expenditure.
Subject to this Subdivision, allowable environment protection expenditure incurred by a taxpayer on or after 19 August 1992 is an allowable deduction for the year of income in which the expenditure is incurred.
82BK(2) Section 51 limits apply.A provision of this Act that expressly prevents or restricts the operation of section 8-1 of the Income Tax Assessment Act 1997 applies in the same way to this section.
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