New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

313   Section 138-370

Repeal the section, substitute:

138-370 Condition for applying this Division to depreciating asset group

There is an additional condition that must be satisfied before you can apply this Division to a *depreciating asset group. The sum of the market values of the assets in the group must not be more than 110% of the sum of those residual values.