Document ID: chunk:federal_register_of_legislation:C2006A00055:clause:5_4
Version: federal_register_of_legislation:C2006A00055
Segment Type: clause
Provision Reference: sch 5 cl 4
Character Range: 13538–14264

4  After section 40‑825
Insert:

40‑832  New method not to apply in some cases

  If:
 (a) on or after 10 May 2006 you abandon, sell or otherwise dispose of a project; and
 (b) you have deducted or can deduct amounts for project amounts in relation to that project; and
 (c) on or after that day, you start to operate that project again; and
 (d) it is reasonable to conclude that you did this for the main purpose of ensuring that deductions for project amounts in relation to that project would be worked out under section 40‑832 of that Act;
the Income Tax Assessment Act 1997 applies to you as if the project had started to operate before 10 May 2006.

Part 2—Consequential amendments

Income Tax Assessment Act 1997