Section DB 11 — Income Tax Act 2007: Negative base price adjustment

DB 11 Negative base price adjustment Deduction (1) A person who has a negative base price adjustment under section EW 31(4) (Base price adjustment formula) is allowed a deduction for the expenditure to the extent to which it arises from assessable income, under section CC 3 (Financial arrangements), derived by the person under the financial arrangement in earlier income years. Link with subpart DA (2) This section supplements the general permission and overrides all the general limitations. Defined in this Act: assessable income , deduction , financial arrangement , general limitation , general permission , income year , supplement , Compare: 2004 No 35 s DB 9