INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision A - General  

SECTION 62AAJ  

62AAJ   CANCELLATION OF ALLOCATION TO POOL - SUBSEQUENT APPLICATION OF SPECIAL DEPRECIATION PROVISIONS  
If:

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

(b) apart from that allocation, the depreciation allowable to the taxpayer in respect of the property in relation to the year of income would have been calculated otherwise than in accordance with subsection 56(1) ;

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

 View history note

 Hide history note