INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIA - CAPITAL GAINS AND CAPITAL LOSSES  

Division 19A - Transfers of assets between companies under common ownership  

Subdivision B - Application of Division  

SECTION 160ZZRDB   HOW DIVISION APPLIES TO DEPRECIABLE ASSETS  

160ZZRDB(1)   [Application of Subdiv D]  

Subdivision D only applies to the disposal of the first asset if:

(a) the asset is a depreciable asset; and

(b) the consideration for the disposal of the asset is less than the written down value of the asset at the time of the disposal; and

(c) the market value of the asset is not more than 10% greater than the written down value of the asset at the time of the disposal; and

(d) the original cost of the asset to the transferor was less than $1 million; and

(e) the asset is not a building.

Note 1:

Written down value and original cost are defined in section 160ZZRA .

Note 2:

Subdivision D also applies to some depreciable assets as part of depreciable asset groups as a result of Subdivision C.

160ZZRDB(2)   [Application of Subdiv E]  

Subdivision E does not have any operation in relation to an asset to which Subdivision D applies.