Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:1_3:p19
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 19/24)
Character Range: 458230–460913

your expenditure on that part of a telephone line. See section 387‑410 of the Income Tax (Transitional Provisions) Act 1997.

 (2) However, you can deduct an amount under this Subdivision for your expenditure on a part of a telephone line even if:
 (a) an entity that worked on installing that part has deducted, or can deduct, an amount relating to that part for any income year under this Act (except this Subdivision); or
 (b) the cost of that part has been, or must be, taken into account:
 (i) in working out the amount of such an entity's deduction (including a deduction for depreciation) for any income year under a provision of this Act (except this Subdivision); or
 (ii) under section 90 of the Income Tax Assessment Act 1936 in working out the net income, or partnership loss, of a partnership that worked on installing that part.

 (3) Subsection (2) has effect whether the entity did the work itself or through one or more employees or agents.

387‑415  Relationship with other deductions

 (1) If you can deduct or have deducted an amount under this Subdivision for any income year for expenditure on all or part of a telephone line:
 (a) an entity cannot deduct an amount for any income year under a provision of this Act (except this Subdivision) for capital expenditure relating to that line or part of the line; and
 (b) an amount of capital expenditure relating to that line or part of the line cannot be taken into account in working out the amount of an entity's deduction for any income year under a provision of this Act (except this Subdivision).

 (2) Subsection (1) also applies in working out the net income, or partnership loss, of a partnership under section 90 of the Income Tax Assessment Act 1936.

Partnerships

387‑420  How this Subdivision applies to partners and partnerships

Application

 (1) This section applies to allocate expenditure to you for the purposes of this Subdivision if you were a partner in a partnership when it incurred capital expenditure during an income year.

Allocation of partnership expenditure to partners

 (2) For the purposes of this Subdivision, you are taken to have incurred during that income year:
 (a) the amount of the expenditure that the partners agreed you should bear; or
 (b) if there was no such agreement—the proportion of the expenditure equal to the proportion of your individual interest in the net income or partnership loss of the partnership for that income year.

This Subdivision does not apply to net income or partnership loss

 (3) Disregard this Subdivision when working out the net income or partnership loss of the partnership under section 90 of the Income Tax Assessment Act 1936.