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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 25 March 2002 - onwards

42. Amendment of section 482 (relief for expenditure on significant buildings and gardens) of Principal Act.

(1) Section 482 of the Principal Act is amended -

(a) in subsection (1) (a), in the definition of "relevant expenditure", by substituting the following for subparagraph (ii):

"(ii) in the case of expenditure incurred in a chargeable period earlier than that referred to in subparagraph (i), expenditure incurred by the person who owned or occupied the approved garden on the maintenance or restoration of the garden;",

(b) in subsection (2) (b) (ii), by substituting "on or before the 1st day of November" for "on or before the 1st day of January",

(c) in subsection (8), by substituting "on or before 1 November" for "on or before 1 January", and

(d) after subsection (10), by inserting the following subsection:

"(11) The Tax Acts shall apply to a loss referred to in subsection (2) as they would apply if sections 396A and 420A had not been enacted.".

(2)

(a) Paragraph (a) of subsection (1) applies as on and from 30 November 1997.