Section DQ 1 — Income Tax Act 2007: Main income equalisation scheme

DQ 1 Main income equalisation scheme Deduction (1) A person who has made a deposit for a tax year is allowed a deduction of the amount quantified in section EH 7(2) (Deduction of deposit). Timing of deduction (2) The deduction is allocated to the income year corresponding to the tax year described in section EH 7(3) . Link with subpart DA (3) This section supplements the general permission and overrides the capital limitation. The other general limitations still apply. Defined in this Act: amount , capital limitation , deduction , deposit , general limitation , general permission , income year , main income equalisation scheme , person , supplement , tax year , Compare: 2004 No 35 s DQ 1