Document ID: chunk:federal_register_of_legislation:C2004A00445:clause:1_4:p4
Version: federal_register_of_legislation:C2004A00445
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 4/5)
Character Range: 20713–23502

(4) However, the amount included in your assessable income cannot exceed:
 • the total of each amount (if any) you can deduct or have deducted for the *spectrum licence for the *current year or an earlier income year under this Division;
reduced by:
 • the total of each amount (if any) included in your assessable income for an income year, in respect of the spectrum licence, under this Division.

Note: An amount may be included in your assessable income under this section (because of a previous partial realisation), under section 380‑70 (because of a replacement) or under section 380‑85 (because of a balancing adjustment event).

380‑45  Spectrum licence after the partial realisation

  To avoid doubt, this Division applies as if the *spectrum licence as varied because of the *partial realisation were the same spectrum licence as before the partial realisation.

Subdivision 380‑C—Replacement of spectrum licences

Guide to Subdivision 380‑C

380‑50  What this Subdivision is about

      If some or all of your spectrum licence (whether or not you still hold it) is replaced by another spectrum licence that you hold after the replacement, your unrecouped expenditure on the first‑mentioned spectrum licence is reduced.
      You may be entitled to deduct an amount in respect of that spectrum licence, or be required to include an amount in your assessable income (to reverse the effect of past deductions).

Table of sections

Operative provisions

380‑55 Application of Subdivision
380‑60 Amount arising from the replacement
380‑65 Effect if the amount arising does not exceed your unrecouped expenditure
380‑70 Effect if the amount arising exceeds your unrecouped expenditure
380‑75 Old spectrum licence varied because of the replacement

[This is the end of the Guide.]

Operative provisions

380‑55  Application of Subdivision

 (1) This Subdivision applies if some or all of a *spectrum licence (the old spectrum licence) is *replaced in the *current year by another spectrum licence (the new spectrum licence).

Note 1: The new spectrum licence is treated in the same way as any other spectrum licence. If it was issued to you at the time of the replacement, Case 3 in the table in subsection 380‑25(2) tells you what your expenditure is. But, if you held it before the replacement, your unrecouped expenditure may be adjusted by section 380‑105.

Note 2: The consequences may differ depending on whether you continue to hold the old spectrum licence.

 (2) Some or all of an *old spectrum licence is replaced by a *new spectrum licence if:
 (a) you held the old spectrum licence when some or all of it was assigned or resumed under Division 5 or 6 of Part 3.2 of the Radiocommunications Act 1992; and
 (b) you held the new spectrum licence when any of the *part