Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p16
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 16/51)
Character Range: 51027–53774

horse for breeding
purposes on the last occasion before the end of the year of income on which
the taxpayer commenced to hold the horse for breeding purposes.
(Definitions)
  "(13) In this section:
  'birth date':
  (a) in relation to a horse foaled on or after 1 August in a calendar year -
means 1 August in that year; and
  (b) in relation to a horse foaled before 1 August in a calendar year - means
1 August in the preceding year;
  'horse breeding stock' has the meaning given by subsection (5);
  'opening value' has the meaning given by subsection (7);
  'reduction amount' has the meaning given by whichever of subsections (8) and
(9) is applicable;
  'special closing value' has the meaning given by subsection (6).".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 24
Application
(Sections 32 and 32A of the amended Act)

  24.(1) Sections 32 and 32A of the Principal Act as amended by this Act apply
in relation to live stock:
  (a) in any case - acquired by a taxpayer under a contract entered into on or
after 19 August 1992; or
  (b) in the case of section 32 of the Principal Act as amended by this Act -
acquired by a taxpayer otherwise than under a contract, where the acquisition
occurred on or after 19 August 1992.
(Section 32 of the Principal Act)
  (2) In spite of the repeal of section 32 of the Principal Act effected by
this Division, that section continues to apply, in relation to live stock:
  (a) acquired by a taxpayer under a contract entered into before 19 August
1992; or
  (b) acquired by a taxpayer otherwise than under a contract, where the
acquisition occurred before 19 August 1992;
as if that repeal had not been effected.

Division 8 - Amendments to allow deductions for environment protection
expenditure

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 25

  25. After section 82BG of the Principal Act the following Subdivision is
inserted:
"Subdivision CA - Deductions for environment protection expenditure
Objects of Subdivision
  "82BH. The objects of this Subdivision are:
  (a) to provide for the deductibility of allowable environment protection
expenditure (section 82BK); and
  (b) to allow property used for eligible environment protection activities to
be treated as if it were used for the purpose of producing assessable income
(section 82BR).
Interpretation
  "82BJ. In this Subdivision:
  'allowable environment protection expenditure' has the meaning given by
section 82BL;
  'eligible environment protection activity' has the meaning given by section
82BM;
  'environment' includes all aspects of the surroundings of humans, whether
affecting them as individuals or in social groupings;
  'income-producing activity', in relation to a taxpayer, means an