Section FM 13 — Income Tax Act 2007: Capital expenditure

FM 13 Capital expenditure When this section applies (1) This section applies when a company that is part of a consolidated group incurs expenditure or loss that would, treating the consolidated group as if it were 1 company, be taken into account in determining the cost of property but would not otherwise be taken into account in the absence of this section. Amount taken into account (2) The expenditure or loss is taken into account in determining the cost of property of companies in the consolidated group. Defined in this Act: company , consolidated group , loss , Compare: 2004 No 35 s HB 2(2)