Section DB 4 — Income Tax Act 2007: Chatham Islands dues

DB 4 Chatham Islands dues Deduction (1) A person is allowed a deduction for expenditure incurred on dues levied under the Chatham Islands Council Act 1995 that relate to goods that the person uses in connection with carrying on a business. Timing of deduction (2) The deduction is allocated to the income year in which the dues are paid. Exclusion of expenditure: other deductions (3) Expenditure to which subsection (1) applies must not be taken into account in calculating the cost of the goods for the purpose of a deduction relating to the goods under any other provision of this Act. Link with subpart DA (4) The link between this section and subpart DA (General rules) is as follows: (a) subsection (1) supplements the general permission and overrides the capital limitation; the other general limitations still apply: (b) subsection (3) overrides the general permission. Defined in this Act: business , capital limitation , deduction , general permission , general limitation , income year , pay , supplement , Compare: 2004 No 35 s DB 4