s 35-10
In forceDeductions for certain new business investment
Chapter 2Liability rules of general application
Part 2-5Rules about deductibility of particular kinds of amounts
Division 35Deferral of losses from non‑commercial business activities
35-10 Deductions for certain new business investment
The rule in subsection 35‑10(2) of the Income Tax Assessment Act 1997 does not apply for an income year to a business activity if:
(a)
apart from that rule, you could otherwise deduct amounts under Division 41 of that Act for that income year; and
(b)
the total of those amounts is more than or equal to the excess worked out under that subsection for the business activity for the income year.
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