Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)

Schedule 3   Capital allowances

Income Tax Assessment Act 1997

71   At the end of section 152-110

Add:

Exception

(3) However, subsection (2) does not apply to income *derived by a company or trust as a result of a *balancing adjustment event occurring to a *depreciating asset:

(a) whose decline in value is worked out under Division 40; or

(b) deductions for which are calculated under Division 328.