7A
In forceDeductible amount for the purposes of this Part
7A Deductible amount for the purposes of this Part
(1)
For the purposes of this Part, the deductible amount is the lesser of the following amounts—
(a)
the amount calculated in accordance with the following formula—
(b)
the amount calculated in accordance with the following formula—
(2)
If the amount calculated in accordance with the formula specified in subclause (1)(a) is an amount that is less than zero, the amount is taken to be zero.
Sch. 1 cl. 8 (Heading) amended by No. 31/2008 s. 27.
Sch. 1 cl. 8 amended by No. 31/2008 s. 24(b).
This Act’s bill:Explanatory memorandumSecond reading speech
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