INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

SECTION 268-35   HOW TO ATTRIBUTE DEDUCTIONS TO PERIODS  

268-35(2)    

(a) deductions for depreciation;

See section 54 , and Division 42 of the Income Tax Assessment Act 1997 .

(b) deductions for exploration or prospecting expenditure, or allowable capital expenditure, in connection with mining or quarrying;

See Divisions 10 , 10AAA and 10AB of Part III , and the former Division 330 of the Income Tax Assessment Act 1997.

(c) deductions for expenditure, deductions for which are spread over 2 or more years, but not:

(i) deductions for exploration or prospecting expenditure, or capital expenditure, in connection with mining or quarrying; or

See Divisions 10 , 10AAA and 10AB of Part III , and the former Division 330 of the Income Tax Assessment Act 1997.

(ii) full year deductions (see subsection (5));

268-35(5)    

(d) deductions allowable under section 78 (Gifts, pensions etc.) or 78B (Promoters recoupment tax) or under Division 30 of the Income Tax Assessment Act 1997 ;

(i) deductions for Income Equalization Deposits;

See Division 16C of Part III of the Income Tax Assessment Act 1936 .