INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
[ Subdiv G of Div 3, comprising s 82KZC-82KZJ, inserted by No 46 of 1986.]
Where the rental property loan interest of the taxpayer in relation to a year of income exceeds the sum of:
(a) the amount (if any) of the deduction allowable to the taxpayer under section 51 in the year of income in respect of that rental property loan interest; and
(b) the amount (if any) by which a capital gain or capital gains that, but for subsection 160ZA(1) , would be deemed by Part IIIA to have accrued to the taxpayer during the year of income in respect of the disposal of a prescribed asset or prescribed assets (within the meaning of section 160ZA ) is reduced by virtue of subsection 160ZA(1) ,
the excess amount shall, for the purposes of section 51 , this Subdivision and Part IIIA , be deemed to have been incurred by the taxpayer at the beginning of the next succeeding year of income.
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