Section DB 51 — Income Tax Act 2007: Adjustment for deferred payment of employment income

DB 51 Adjustment for deferred payment of employment income When this section applies (1) This section applies when a person has, under section EA 4 (Deferred payment of employment income), an unpaid amount of expenditure on employment income in an income year for which the person is to be allowed a deduction in the following income year. Deduction (2) The person is allowed a deduction for the unpaid amount for the following income year. Link with subpart DA (3) This section supplements the general permission. The general limitations still apply, but not to the extent to which any relevant general limitation was overridden by a provision that initially allowed a deduction for the expenditure, whether in this Act or an earlier Act. Defined in this Act: amount , deduction , employment income , general limitation , general permission , income year , pay , supplement , Compare: 2004 No 35 s DB 42