Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:12_23
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 12 cl 23
Character Range: 713692–714298

23  After subsection 245-140(1) of Schedule 2C
Insert:

 (1A) If the forgiveness year of income is the 1997-98 year of income, paragraph (a) of the definition of deductible expenditure in subsection (1) applies to expenditure that is taken by Division 330 of the Income Tax (Transitional Provisions) Act 1997 to be incurred in that year of income as if it had been incurred before the forgiveness year of income.

Note: Division 330 of the Income Tax (Transitional Provisions) Act 1997 deals with mining and quarrying expenditure.

Part 3—Amendment of the Income Tax (Consequential Amendments) Act 1997