Section CX 51B — Income Tax Act 2007: Disposal of pre-1990 forest land emissions units

CX 51B Disposal of pre-1990 forest land emissions units Who this section applies to (1) This section applies to a person who disposes of a pre-1990 forest land emissions unit other than by surrender. Excluded income: disposal (2) An amount of income that the person derives from the disposal is excluded income if, at the time of the disposal, the person would not derive income, other than exempt income or excluded income, from a disposal without timber of the pre-1990 forest land to which the emissions unit relates. Defined in this Act: amount , emissions unit , excluded income , income , pre-1990 forest land , pre-1990 forest land emissions unit , surrender Section CX 51B: inserted (with effect on 26 September 2008), on 6 October 2009, by section 61 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).