Deduction timing clarified: substitution allows claiming deductions in earlier previous years subject to acquisition or first-use limits. Amendment substitutes the phrase 'the relevant previous year' with wording allowing deduction for any previous year for which deduction is allowable under subsection (2) or any earlier previous year, limited by the year of acquisition or first use of the ship, machinery or plant; the Amendment also omits the Explanation, both changes being made retrospective to 1 April 1962.
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Deduction timing clarified: substitution allows claiming deductions in earlier previous years subject to acquisition or first-use limits.
Amendment substitutes the phrase "the relevant previous year" with wording allowing deduction for any previous year for which deduction is allowable under subsection (2) or any earlier previous year, limited by the year of acquisition or first use of the ship, machinery or plant; the Amendment also omits the Explanation, both changes being made retrospective to 1 April 1962.
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