Document ID: chunk:federal_register_of_legislation:C2004A00445:clause:1_10
Version: federal_register_of_legislation:C2004A00445
Segment Type: clause
Provision Reference: sch 1 cl 10
Character Range: 46626–48252

10  At the end of section 159GJ
Add:

 (5) If this Division applies in relation to an item of property that is an eligible spectrum licence:
 (a) an amount cannot be deducted under Division 380 of the Income Tax Assessment Act 1997 in relation to any amount of expenditure (other than expenditure incurred after the application period) by reason of which the item is an eligible spectrum licence for any year of income in which any of the application period occurs; and
 (b) the residual amount at any time after the application period (but before the start of a later application period) in relation to an amount of expenditure (other than expenditure incurred after the application period) because of which the item is an eligible spectrum licence is an amount equal to:
 • the amount that, if not for this paragraph, would be the residual amount at that time in relation to the amount of expenditure under subsection 159GF(6);
  reduced by:
 • an amount equal to the total notional principal in relation to the amount of expenditure in relation to the application period and any prior application period; and
 (c) for the purposes of applying Division 380 of the Income Tax Assessment Act 1997 in relation to an amount of expenditure (other than expenditure incurred after the application period) because of which the item is an eligible spectrum licence at any time after the application period, a deduction under that Division is taken to have been allowed, for the amount of expenditure, of an amount equal to the total notional principal in relation to the amount of expenditure in relation to the application period.