Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p19
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 19/51)
Character Range: 58660–61426

same, or
substantially the same, as the business carried on by the other person, or by
the other person's predecessor, as the case requires, on the old site.
No deduction for expenditure on land, plant etc.
(No deduction for expenditure on land, buildings etc.)
  "82BN.(1) A deduction is not allowable under section 82BK for:
  (a) expenditure in respect of acquiring land; or
  (b) expenditure of a capital nature in respect of constructing a building,
structure or structural improvement; or
  (c) expenditure of a capital nature in respect of constructing an extension,
alteration or improvement to a building, structure or structural improvement;
or
  (d) expenditure in respect of a bond or security, however described, for the
performance of eligible environment protection activities.
(No deduction for depreciable plant)
  "(2) A deduction is not allowable under section 82BK for expenditure to the
extent to which it is taken into account in calculating an amount of
depreciation that is allowable as a deduction.
No deduction where expenditure is recouped
(No deduction where expenditure is recouped)
  "82BP.(1) Section 82BK does not apply, and is taken never to have applied,
to expenditure if:
  (a) the taxpayer, whether before or after the commencement of this
subsection, receives, or becomes entitled to receive, a recoupment of, or
grant in respect of, the expenditure; and
  (b) the amount of the recoupment or the grant is not, and will not be,
included in the taxpayer's assessable income of any year of income.
(Dissection of amounts)
  "(2) For the purposes of subsection (1), if a taxpayer receives, or becomes
entitled to receive, an amount that constitutes to an unspecified extent a
recoupment of, or a grant in respect of, expenditure, then so much of that
amount as is reasonable is taken to be a recoupment of, or grant in respect
of, that expenditure, as the case requires.
(Amendment of assessments)
  "(3) Section 170 does not prevent the amendment of an assessment at any time
for the purpose of giving effect to this section.
Transactions between persons not at arm's length
  "82BQ. If:
  (a) a person has incurred expenditure in connection with a transaction where
the parties to the transaction are not dealing with each other at arm's length
in relation to the transaction; and
  (b) deductions are or have been allowable under this Subdivision in respect
of the expenditure; and
  (c) the amount of the expenditure is greater or less than is reasonable;
the amount of the expenditure is taken, for all purposes of the application of
this Act in relation to the parties to the transaction, to be the amount that
would have been reasonable if the parties were dealing with each other at
arm's length.
Property used for eligible