Document ID: chunk:federal_register_of_legislation:C2023A00028:clause:3_2:p2
Version: federal_register_of_legislation:C2023A00028
Segment Type: clause
Provision Reference: sch 3 cl 2 (pt 2/2)
Character Range: 10302–11688

production deductions for the *current year are:
 (a) all amounts you can deduct that relate exclusively to the amount referred to in paragraph (2)(a); and
 (b) so much of any other amounts you can deduct (other than *apportionable deductions) to the extent that they reasonably relate to the amount referred to in paragraph (2)(a); and
 (c) so much of any other amounts you can deduct for the current year in relation to expenditure you incur in:
 (i) starting to *hold a *primary producer registered emissions unit; or
 (ii) holding such a unit; or
 (iii) ceasing to hold such a unit; and
 (d) so much of any other amounts you can deduct for the current year in relation to expenditure you incur under an *arrangement with a *carbon service provider to the extent that:
 (i) the arrangement relates to the provider starting to hold, holding or ceasing to hold an *Australian carbon credit unit; and
 (ii) the unit would have been a primary producer registered emissions unit if you were starting to hold, holding or ceasing to hold the unit (as applicable) instead of the provider; and
 (iii) the expenditure does not relate to you giving the provider a *quasi‑ownership right over land.
Note 1: For the expenditure covered by subparagraph (c)(i), see subsections 420‑15(1) and (4) and 420‑65(4).
Note 2: For the expenditure covered by subparagraph (c)(iii), see subsection 420‑42(1).