INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 62AAH  

62AAH   CANCELLATION OF ALLOCATION TO POOL - ANNUAL DEPRECIATION PERCENTAGE NOT EQUAL TO POOL PERCENTAGE  
If:

(a) property is allocated by a taxpayer to a pool for a year of income; and

(b) the annual depreciation percentage fixed under section 55 for the property in relation to the year of income does not equal the pool percentage for the pool;

the allocation is cancelled insofar as it applies for that year of income and for subsequent years of income.

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