Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p20
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 20/51)
Character Range: 61199–64016

all purposes of the application of
this Act in relation to the parties to the transaction, to be the amount that
would have been reasonable if the parties were dealing with each other at
arm's length.
Property used for eligible environment protection activities taken to be used
for the purpose of producing assessable income
  "82BR.(1) For the purposes of this Act, if property is used by a taxpayer on
or after 19 August 1992 for eligible environment protection activities, that
use of the property by the taxpayer is taken to be for the purpose of
producing assessable income of the taxpayer.
  "(2) Subsection (1) has effect subject to a provision of this Act that
expressly provides that a particular use of property is not taken to be for
the purpose of producing assessable income.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 26
Interpretation

  26. Section 124ZF of the Principal Act is amended by omitting from
subsection (1) the definition of "building" and substituting the following
definition:
  "'building' includes:
  (a) a structural improvement covered by section 124ZFB; and
  (b) an earthwork covered by section 124ZFC;".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 27

  27. After section 124ZFB of the Principal Act the following section is
inserted:
Division has effect as if certain environment protection earthworks were
buildings
(Earthworks to which this section applies)
  "124ZFC.(1) This section applies to an earthwork if:
  (a) the earthwork was constructed as the result of carrying out an eligible
environment protection activity in relation to any taxpayer (within the
meaning of section 82BM); and
  (b) the earthwork can be economically maintained in reasonably good order
and condition for an indefinite period; and
  (c) the earthwork is not integral to the construction of a building.
(Earthworks deemed to be buildings)
  "(2) This Division has effect as if the earthwork were a building.
(Application)
  "(3) This section applies in relation to expenditure incurred on or after 19
August 1992 in respect of the construction of an earthwork, or an extension,
alteration or improvement to an earthwork.".

Division 9 - Amendments relating to research and development

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 28
Expenditure on research and development activities
(Amendments to extend the 150% concession for an indefinite period)

  28.(1) Section 73B of the Principal Act is amended:
  (a) by omitting "(a) in the case of the year of income ending on 30 June
1993 or an earlier year of income:" from the definition of "deduction
acceleration factor" in subsection (1);
  (b) by re-numbering and re-aligning subparagraphs (a)(i) and (ii) of the
definition of "deduction acceleration factor" in subsection (1)