Section DB 39 — Income Tax Act 2007: Patent rights acquired before 1 April 1993

DB 39 Patent rights acquired before 1 April 1993 When this section applies (1) This section applies when a person sells patent rights that they acquired before 1 April 1993. Deduction (2) The person is allowed a deduction on the sale of the patent rights. Amount of deduction (3) The amount is calculated using the formula— unexpired term of the patent rights at the date of sale × cost. unexpired term of the patent rights at the date of acquisition Link with subpart DA (4) This section overrides the capital limitation. The general permission must still be satisfied and the other general limitations still apply. Defined in this Act: amount , capital limitation , general limitation , general permission , patent right , Compare: 2004 No 35 s DB 30