Document ID: chunk:federal_register_of_legislation:C2004A02157:body:0:p7
Version: federal_register_of_legislation:C2004A02157
Segment Type: other
Provision Reference: 
Character Range: 14240–16865

relation to the trading stock of the taxpayer.
(4) A reference in sub-section (1) or (2), in relation to a taxpayer, to a loss shall be read as a reference to—
     (a) in a case where the taxpayer is a partnership that is being treated as a taxpayer for the purposes of section 90 of the Income Tax Assessment Act 1936—a partnership loss for the purposes of section 92 of the Income Tax Assessment Act 1936; and
     (b) in any other case—a loss for the purposes of section 80 or 80aa of the Income Tax Assessment Act 1936.
(5) Notwithstanding anything contained in the Income Tax Assessment Act 1936, the Commissioner may amend an assessment for the purpose of giving effect to this section if the amendment is made within 3 years after the date on which the tax became due and payable under the assessment, but nothing in this sub-section limits the power of the Commissioner to amend an assessment in accordance with the provisions of that Act.

Deduction in respect of new plant installed on or after 1 January 1976
6. Section 82ab of the Principal Act is amended—
     (a) by inserting in sub-section (4) ", in a case to which sub-section (6a) does not apply" after "Where"; and
     (b) by inserting after sub-section (6) the following sub-sections:
        "(6a) Where, in a case to which sub-section (2) does not apply—
        (a) the eligible expenditure was incurred—
          (i) in respect of a unit of property acquired by a taxpayer under a contract entered into before 1 July 1978; or
          (ii) in respect of a unit of property that was constructed by the taxpayer and the construction of which commenced before 1 July 1978;
        (b) the unit of property or a part of the unit of property was positioned for use as at 3 June 1979;
        (c) the whole or a part of the eligible expenditure was incurred on or before 3 June 1979; and
        (d) the whole or a part of the eligible expenditure that was incurred on or before 3 June 1979 (which whole or part, as the case may be, is in this sub-section referred to as the 'qualifying eligible expenditure')—
          (i) is attributable to the property that was positioned for use as mentioned in paragraph (b); and

          (ii) is not attributable to any part of the installation of that property that occurred after 3 June 1979,
the relevant amount is the amount calculated in accordance with the formula , where—
        A is the amount that, for the purposes of sub-section (1), would be the relevant amount in relation to the eligible expenditure if that relevant amount were calculated in accordance with sub-sections (2) and (3);
        B