Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 No. 40 of 1997 - SECT 330.45

Converting old excess general mining, quarrying and petroleum deductions into excess deductions under the new law 
If the whole or part of a deduction for the 1996-97 income year is disallowed
because of subsection 122DG(6), 122JE(5) or 124ADG(6) of the
Income Tax Assessment Act 1936 then that whole or part is taken to be:

   (a)  allowable capital expenditure incurred by you in the 1997-98 income
        year; and

   (b)  because of section 330- 310 of the Income Tax Assessment Act  1997 ,
        deductible by you under section 330-80 of that Act in the 1997- 98
        income year.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback