Clause 16

by deleting the words “or 43ZF” in subsection (4)(d)(ii) and substituting the words “, 43ZF or 43ZG”;

by inserting, immediately after the word “conditions” in subsection (4A), the words “precedent and conditions subsequent”; and

by inserting, immediately after subsection (4A), the following subsections:“(5) Despite subsection (4), the Minister or such person as the Minister may appoint may, in any particular case, and subject to such conditions precedent and conditions subsequent as the Minister or appointed person may impose, allow a deduction of any expenses referred to in subsection (4)(d).(6) If the firm or company fails to comply with a condition subsequent imposed under subsection (4A) or (5), the deduction allowed to the firm or company under that subsection is treated as the firm’s or company’s income for the year of assessment in which the Comptroller discovers the non‑compliance.(7) In relation to a deduction under this section, a condition is a condition subsequent if or to the extent that it can only be satisfied after the deduction is allowed, and a condition is a condition precedent if or to the extent that it is not a condition subsequent; and accordingly a condition may, depending on the circumstances, be either a condition precedent or a condition subsequent.”.