Section DB 52 — Income Tax Act 2007: Adjustment for change to accounting practice

DB 52 Adjustment for change to accounting practice When this section applies (1) This section applies when a person has, under section EG 2(2) or (3) (Adjustment for changes to accounting practice), an amount owed by them or an amount owing to them as quantified in those subsections. Amount, and timing, of deduction (2) The person is allowed a deduction of the amount as quantified and allocated under section EG 2 . Link with subpart DA (3) This section supplements the general permission. The general limitations still apply. Defined in this Act: amount , deduction , general limitation , general permission , supplement , Compare: 2004 No 35 s DB 43