Clause 16
Amendment of section 22
of Income Tax (Amendment) Bill
BillNot in forceProvision 16 of 47
Clause 16
The principal Act is amended by renumbering section 22 as subsection (1) of that section, and by inserting immediately thereafter the following subsection:“(2) Expenditure on the provision of machinery or plant excludes any option premium paid under an option agreement entered into for the purpose of hedging against the cost of the acquisition of such machinery or plant.”.