INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 62AAC   TAXPAYER MAY CREATE POOLS TO WHICH DEPRECIABLE PROPERTY MAY BE ALLOCATED  

62AAC(1)   [Taxpayer's notice]  

A taxpayer may, by written notice:

(a) create a pool to which depreciable property may be allocated; and

(b) specify a year of income as the earliest year of income for which property may be allocated to the pool; and

(c) specify a percentage as the pool percentage for the pool.

62AAC(2)   [Period for notice]  

A notice under subsection (1) is irrevocable and must be made:

(a) within 6 months after the later of the following:

(i) the end of the specified year of income;

(ii) the commencement of this section; or

(b) within such further period as the Commissioner allows.