Document ID: chunk:federal_register_of_legislation:C2004A00684:clause:2_82kzmf
Version: federal_register_of_legislation:C2004A00684
Segment Type: clause
Provision Reference: sch 2 cl 82KZMF
Character Range: 22285–23014

82KZMF  Proportional deduction

 (1) If this section applies to expenditure incurred by a taxpayer in a year of income:
 (a) the taxpayer cannot deduct all of the expenditure for the expenditure year; and
 (b) instead, the taxpayer can deduct, for each year of income during which part of the eligible service period for the expenditure occurs, an amount worked out using this formula:

 (2) This section has effect:
 (a) despite section 8‑1 of the Income Tax Assessment Act 1997; and
 (b) subject to Division 245 of Schedule 2C to this Act.

 (3) If this section applies to expenditure incurred by a taxpayer, sections 82KZMB and 82KZMC do not apply to it.

Part 2—2002 and later expenditure

Income Tax Assessment Act 1936