INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)
In applying subsection 387-195(2) of the Income Tax Assessment Act 1997 to work out whether you can deduct an amount under Subdivision 387-C of that Act for expenditure on establishing a horticultural plant, disregard any amount deducted or deductible under Division 10F of Part III of the Income Tax Assessment Act 1936 .
Note:
This ensures that you can deduct amounts for the 1998-99 income year and later income years under Subdivision 387-C of the Income Tax Assessment Act 1997 for expenditure on establishing a horticultural plant, even if an entity did or can deduct amounts for one or more income years before the 1998-99 income year under Division 10F of Part III of the Income Tax Assessment Act 1936 for the expenditure.
387-195(2)
Subdivision 387-C of the Income Tax Assessment Act 1997 does not affect a deduction, or an entitlement to a deduction, under Division 10F of Part III of the Income Tax Assessment Act 1936 for the 1997-98 income year or an earlier income year.
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