Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:11_1:p1
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 11 cl 1 (pt 1/8)
Character Range: 676287–679097

1  At the end of Part 3‑45
Add:

[The next Division is Division 387.]

Division 387—Capital allowances for primary producers and some land-holders

Table of Subdivisions

387‑A Landcare operations
387‑B Installations to conserve or convey water
387‑D Establishing grapevines
387‑E Mains electricity supply
387‑F Telephone lines
387‑G Forestry roads and timber mill buildings

Subdivision 387‑A—Landcare operations

Table of sections

387‑50 Application of Subdivision 387‑A of the Income Tax Assessment Act 1997
387‑80 Transitional provision for approved management plans
387‑85 Transitional provisions for approvals of farm consultants

387‑50  Application of Subdivision 387‑A of the Income Tax Assessment Act 1997

  Subdivision 387‑A of the Income Tax Assessment Act 1997 applies to expenditure incurred in the 1997-98 income year or a later income year.

[The next section is section 387‑80.]

387‑80  Transitional provision for approved management plans

 (1) An approved land management plan under section 75D of the Income Tax Assessment Act 1936 is taken to be an approved management plan for the purposes of Subdivision 387‑A of the Income Tax Assessment Act 1997 also.

Note: This means that you can deduct amounts for capital expenditure in the 1997-98 income year or a later income year on fencing under an approved management plan that was prepared or approved before the 1997-98 income year.

 (2) An approved management plan for the purposes of Subdivision 387‑A of the Income Tax Assessment Act 1997 also has effect as if it were an approved land management plan under section 75D of the Income Tax Assessment Act 1936.

Note: This allows an entity whose 1996-97 income year ends after 30 June 1997 to deduct expenditure incurred after that date on fencing under a management plan prepared or approved after 30 June 1997 but before the end of the entity's 1996-97 income year.

387‑85  Transitional provisions for approvals of farm consultants

 (1) An approval of a person as a farm consultant for the purposes of section 75D of the Income Tax Assessment Act 1936 that was in force immediately before 1 July 1997 also has effect on and after that day as an approval of the person as a farm consultant for the purposes of Subdivision 387‑A of the Income Tax Assessment Act 1997 (until the approval is revoked).

 (2) Anything done in relation to the approval under that Subdivision also has effect for the purposes of section 75D of the Income Tax Assessment Act 1936.

 (3) If:
 (a) the Secretary to the Department of Primary Industries and Energy has authorised an officer of that Department to approve persons as farm consultants for the purposes of section 75D of the Income Tax Assessment Act 1936; and
 (b) the authority was in force immediately before 1 July 1997;
the authority