Document ID: chunk:federal_register_of_legislation:C2004A00445:clause:1_1:p1
Version: federal_register_of_legislation:C2004A00445
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 1/2)
Character Range: 2048–4899

1  Section 375‑880 (link note)
Repeal the link note, substitute:

[The next Division is Division 380.]

Division 380—Spectrum licences under the Radiocommunications Act

Table of Subdivisions

 Guide to Division 380
380‑A Deductions for capital expenditure on spectrum licences
380‑B Partial realisation of spectrum licences
380‑C Replacement of spectrum licences
380‑D Balancing adjustments
380‑E Application of the Common rules
380‑F Adjustments affecting your deductions under this Division

Guide to Division 380

380‑5  What this Division is about

      This Division creates a capital allowance for expenditure incurred in obtaining a spectrum licence that you use for the purpose of producing assessable income.
                  Note 1: In some cases, you get a deduction even if you obtained the spectrum licence for nothing.
                  Note 2: Division 40 sets out an overview of capital allowances. Division 41 sets out the Common rules that can affect capital allowances (see also Subdivision 380‑E).
      In certain cases, an amount is included in your assessable income to reverse the effect of past deductions.

Subdivision 380‑A—Deductions for capital expenditure on spectrum licences

Table of sections

380‑10 When can you deduct your expenditure?
380‑15 How much can you deduct?
380‑20 What is your unrecouped expenditure?
380‑25 What is your expenditure?

380‑10  When can you deduct your expenditure?

 (1) You can deduct an amount for the *current year for your *expenditure incurred in obtaining a *spectrum licence if you used the spectrum licence in that year for the *purpose of producing assessable income.

 (2) However, you cannot deduct an amount under this section if, in the *current year or an earlier income year:
 (a) you ceased to hold the *spectrum licence when it was *replaced by another spectrum licence that you held after the replacement; or
 (b) a *balancing adjustment event happened at a time when you held the *spectrum licence.

Note 1: For the replacement of spectrum licences, see Subdivision 380‑C. If some or all of the spectrum licence was replaced in the current year, you may be able to deduct an amount under that Subdivision whether or not you ceased to hold the spectrum licence when that happened.

Note 2: If a balancing adjustment event happened in the current year, you may be able to deduct an amount because of the balancing adjustment that you must make: see Subdivision 380‑D.

Note 3: You can deduct an amount under this section even if you have assigned part of the spectrum licence, or part of it is resumed by the ACA. The effect of such partial realisations is set out in Subdivision 380‑B.

Note 4: Once you have a deduction under this section, an amount may be included in your assessable income under Subdivision 380‑B, 380‑C or 380‑D.

380‑15  How much can you