Section GB 33 — Income Tax Act 2007: Arrangements involving depreciation loss

GB 33 Arrangements involving depreciation loss When this section applies (1) This section applies when— (a) an asset of a person has been subject to an arrangement; and (b) the arrangement allows the person or another person to have a deduction for an amount of depreciation loss; and (c) a purpose of the arrangement is to defeat the intent and application of this Act. No deduction (2) The relevant person is denied the deduction. Defined in this Act: arrangement , Commissioner , deduction , depreciation loss , Compare: 2004 No 35 s GC 6