Section DZ 8 — Income Tax Act 2007: Buying patent rights before 1 April 1993

DZ 8 Buying patent rights before 1 April 1993 When this section applies (1) This section applies when a person buys patent rights before 1 April 1993 and uses them in deriving their income. In this section, if the person dies after incurring expenditure on buying the rights, references to the person include their personal representative, a trustee of their estate, and a beneficiary of their estate. Deduction (2) The person is allowed a deduction of the amount quantified in section EZ 7(2) (Buying patent rights before 1 April 1993). Link with subpart DA (3) This section supplements the general permission. The general limitations still apply. Defined in this Act: amount , deduction , general limitation , general permission , income , patent rights , supplement , trustee , Compare: 2004 No 35 s DZ 8