Section DQ 2 — Income Tax Act 2007: Adverse event income equalisation scheme

DQ 2 Adverse event 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 41(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 41(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: adverse event income equalisation scheme , amount , capital limitation , deduction , deposit , general limitation , general permission , income year , person , supplement , tax year , Compare: 2004 No 35 s DQ 2