Section DV 14 — Income Tax Act 2007: Amalgamated company: expenditure on improvements for farming, horticultural, aquacultural, and forestry businesses

DV 14 Amalgamated company: expenditure on improvements for farming, horticultural, aquacultural, and forestry businesses When this section applies (1) This section applies when— (a) an amalgamating company ends its existence on a resident’s restricted amalgamation; and (b) the amalgamated company acquires land or a business from the amalgamating company; and (c) the amalgamating company would have been allowed a deduction under any of section DO 4 , DO 5 , DO 6 , DO 12 , or DP 3 (which relate to improvements and expenditure on land) for the land or business if the amalgamation had not occurred. Deduction (2) While the amalgamated company holds the land or carries on the business, it is allowed the deduction that the amalgamating company would have been allowed under section DO 4 , DO 5 , DO 6 , DO 12 , or DP 3 . Link with subpart DA (3) This section supplements the general permission. The general limitations still apply. Defined in this Act: amalgamated company , amalgamating company , business , deduction , general limitation , general permission , resident’s restricted amalgamation , supplement , Compare: 2004 No 35 s DV 13