Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 240.50

Extent to which deductions are allowable to notional buyer

             (1)  The * notional buyer is only entitled to deduct * notional interest for an income year to the extent that the notional buyer would, apart from this Division, have been entitled to deduct * arrangement payments for that income year if no part of those payments were capital in nature.

             (2)  The * notional buyer is entitled to deduct * notional interest for * arrangement payment periods, and parts of arrangement payment periods, in the income year.



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