Document ID: chunk:federal_register_of_legislation:C2004A04149:body:0:p21
Version: federal_register_of_legislation:C2004A04149
Segment Type: other
Provision Reference: 
Character Range: 57589–61095

related to the business and are allowable deductions for the purposes of section 51 of the Income Tax Assessment Act; and

    (b)     depreciation that relates to the business and is an allowable deduction for the purposes of subsection 54 (1) of that Act; and

    (c)     amounts that relate to the business and are allowable deductions under subsection 82aa (1) of that Act.

"(2) If the person is to be taken because of Division 8a to receive ordinary income or additional ordinary income from money, the person's ordinary income from the money is not to be reduced by any expenses incurred by the person because of the investment of the money.

"(3) If the person is to be taken because of Division 8b to receive ordinary income or additional ordinary income from a loan, the person's ordinary income from the loan is not to be reduced by any expenses incurred by the person because of the loan.

Permissible reductions—investment income

"45d. If a person is to be taken because of Division 8 to receive ordinary income by way of rate of return on an investment, the person's ordinary income on the investment may be reduced but only in accordance with section 46g or 46r (reasonable investment costs).".
SCHEDULE 3—continued

Division 8a of Part III (heading):

   After "8a—" insert "Ordinary income test—".

Division 8b of Part III (heading):

   After "8b—" insert "Ordinary income test—".

Division 8c of Part III (heading):

  After "8c—" insert "Ordinary income test—".

After paragraph 52 (1) (j):

   Insert:

       "(ja) an amount invested in an exempt funeral investment and any return on the investment;".

Section 59a (Indexed and Adjusted Amounts Table):

  After item 7 in the Table insert:

"7aa.  Rent assistance free area  rent free area  * Service Pension Rate Calculator Where There Are No Dependent Children—point 41-C12—Table C-2—column 3— all amounts
                                                  * Service Pension Rate Calculator Where There Are Dependent Children—point 42-D12—Table D-2—column 3— all amounts
                                                  * Service Pension Rate Calculator for Widows, Widowers and Non-illness Separated Spouses—point 44-C12—Table C-2—column 3— all amounts

SCHEDULE 3—continued

"7a.  Maintenance income free area for service pension  maintenance free area  * Service Pension Rate Calculator Where There Are No Dependent Children—point 41-E6—Table E-1 —column 3—all amounts
                                                                               * Service Pension Rate Calculator Where There Are Dependent Children—point 42-F9—Table F-1 —columns 3 and 5—all amounts
                                                                               * Service Pension Rate Calculator For Widows, Widowers and Non-illness Separated Spouses—point 44-E6—Table E-1 —columns 3 and 5—all amounts
                                                                                                                                                                                                                            ".

Subsection 59b (1) (CPI Indexation Table):

    After item 4 in the Table insert:

"4a.  Maintenance free area  1 July  December  most recent December quarter before reference quarter  $2.60
                                                                                                      "..

Subsection 59b (1) (CPI Indexation Table—items 6, 7, 8, 9 and 10 of column 3):

    Omit "13 June", substitute "1