Document ID: chunk:federal_register_of_legislation:C2017A00126:clause:2_7
Version: federal_register_of_legislation:C2017A00126
Segment Type: clause
Provision Reference: sch 2 cl 7
Character Range: 11974–12405

7  At the end of section 40‑435
Add:
 (2) For the purposes of subsection (1), disregard a *taxable purpose that is the *purpose of producing assessable income:
 (a) from the use of *residential premises to provide residential accommodation; but
 (b) not in the course of carrying on a *business;
if, apart from subsections 40‑25(5) and 40‑27(6), section 40‑27 would reduce your deductions under subsection 40‑25(1) for the asset.