Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:10_15
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 10 cl 15
Character Range: 956513–957350

15  Subsection 995‑1(1)
Insert:

apportionable deductions are:

 (a) amounts deducted or deductible under section 25‑75 (which provides a deduction for rates and land tax); or

 (b) amounts deducted or deductible under section 30‑15 because of item 1 or 2 in the table in that section, except amounts deducted or deductible for gifts of trading stock in cases where:

 (i) the gifts are covered by section 70‑90 (which has the effect that the giver's assessable income includes the market value of the gift); and

 (ii) no election has been made, or is made, under Subdivision 385‑E (which allows the giver to choose to spread the market value of a gift of *live stock over the giver's assessable income for 5 income years or to reduce the amount included in the giver's assessable income by the cost of replacement live stock).