Section DB 56 — Income Tax Act 2007: Expenditure incurred in operating motor vehicle under agreement or arrangement affected by section CX 7

DB 56 Expenditure incurred in operating motor vehicle under agreement or arrangement affected by section CX 7 Deduction (1) A party to an agreement or arrangement referred to in section CX 7 (Employer or associated person treated as having right to use vehicle under arrangement) is allowed a deduction for expenditure or an amount of depreciation loss incurred in operating a motor vehicle during a period for which an employer or associated person is treated under that section as having a right to use the vehicle. Link with subpart DA (2) This section overrides the private limitation and exempt income limitation. The general permission must still be satisfied and the other general limitations still apply. Defined in this Act: amount , arrangement , deduction , depreciation loss , exempt income limitation , general limitation , general permission , lease , motor vehicle , Compare: 2004 No 35 s DB 45