s 25-40
In forceApplication of section 25‑40 of the Income Tax Assessment Act 1997
Chapter 2Liability rules of general application
Part 2-5Rules about deductibility of particular kinds of amounts
Division 25Some amounts you can deduct
25-40 Application of section 25‑40 of the Income Tax Assessment Act 1997
Section 25‑40 (Loss from profit‑making undertaking or plan) of the Income Tax Assessment Act 1997 applies to a loss arising in the 1997‑98 income year or a later income year, even if the undertaking or plan was entered into, or began to be carried on or carried out, before the 1997‑98 income year.
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