Taxation Laws Amendment (Research and Development) Act 2001 (170 of 2001)

Schedule 2   Plant etc.

Part 3   Effective life basis for deduction

Division 1   Amendments commencing at 12 pm on 29 January 2001

Income Tax Assessment Act 1997

40   At the end of section 42-365

Add:

(2) However, you cannot allocate *plant to a *pool if you can deduct an amount for the plant under section 73BH of the Income Tax Assessment Act 1936 for a period before, or starting at the same time as, the allocation would have effect.