Section DZ 1 — Income Tax Act 2007: Commercial bills before 31 July 1986

DZ 1 Commercial bills before 31 July 1986 Deduction (1) A person is allowed a deduction if they acquire a commercial bill from another person, other than under a relationship agreement, and derive income under section CZ 6 (Commercial bills before 31 July 1986) on the redemption or disposal of the commercial bill. Amount of deduction (2) The amount of the deduction is the value of the commercial bill on the date on which the person acquired it. Link with subpart DA (3) This section supplements the general permission. The general limitations still apply. Defined in this Act: amount , commercial bill , deduction , general limitation , general permission , income , relationship agreement , supplement , Compare: 2004 No 35 s DZ 1