Document ID: chunk:federal_register_of_legislation:C2011C00610:clause:2_6:p6
Version: federal_register_of_legislation:C2011C00610
Segment Type: clause
Provision Reference: sch 2 cl 6 (pt 6/6)
Character Range: 109651–110745

of expenditure

245‑145  Remaining total net forgiven amount is applied in reduction of expenditure

 (1) The *total net forgiven amount (if any) remaining after being applied under sections 245‑115 and 245‑130 is applied, to the maximum extent possible, in reduction, in accordance with sections 245‑150, 245‑155 and 245‑157, of your expenditure that:
 (a) is mentioned in the following table (other than expenditure covered by subsection (2)) and was incurred by you before the *forgiveness income year; and
 (b) apart from this Subdivision, could be deducted by you for the forgiveness income year or a later income year if no event or circumstance (other than a *recoupment of the expenditure by you in the forgiveness income year) occurred that would affect its deductibility.

Table of expenditure
Item                  Column 1                                                                             Column 2
                      General description of expenditure                                                   Provision under which a deduction is available for the expenditure