New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1997
257 Section 104-5 (at the end of the table)
Add:
|
K7 Balancing adjustment occurs for a depreciating asset that you used for purposes other than taxable purposes
|
When balancing adjustment event occurs |
Termination value less cost times fraction |
Cost less termination value times fraction |