Document ID: chunk:federal_register_of_legislation:C2004A00684:clause:1_4:p2
Version: federal_register_of_legislation:C2004A00684
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 2/2)
Character Range: 15588–16337

the activity and the production of any assessable income. For example, an activity involving the planting of hardwood trees for harvest, where many years would pass before the activity could reasonably be expected to produce income.

 (2) The Commissioner must not exercise the discretion under paragraph (1)(b) for a *business activity at a time after the earlier of:
 (a) the time at which it would be reasonable to expect the activity to first produce assessable income for an income year greater than the deductions attributable to it for that year (apart from the operation of subsection 35‑10(2)); or
 (b) the time at which it would be reasonable to expect the activity to meet one of the tests set out in section 35‑30, 35‑35, 35‑40 or 35‑45.