INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION

Division 3 - Deductions

Subdivision F - Substantiation of certain expenses of years of income up to and including 1993-94

SECTION 82KTK RE-ACQUISITION ETC. OF CARS

82KTK(1) [Car held during two or more periods]

Subject to subsection (2) of this section and to section 82KTJ , for the purposes of the application of this SubDivision (other than section 82KW , 82KX or 82KY ) to a car expense, where:

(a) a taxpayer holds a car during a period (in this subsection called the current period ); and

(b) the taxpayer held the car during a period that ended, or during 2 or more periods each of which ended, before the commencement of the current period;

the car shall be treated as a different car in each of the periods referred to in this subsection.

82KTK(2) [Application re deduction for car expenses]

Subsection (1) does not apply for the purposes of determining the deduction that, apart from this SubDivision would have been allowable under this Act in respect of a car expense.

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