INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART III
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LIABILITY TO TAXATION
Division 3
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Deductions
Subdivision A
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General
SECTION 62AAQ
62AAQ
CANCELLATION OF ALLOCATION OF PROPERTY TO A POOL
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EFFECT ON SUBSEQUENT OPERATION OF DEPRECIATION PROVISIONS
If the allocation of a unit of property to a pool is cancelled, the provisions of this Act relating to depreciation apply, in relation to each year of income to which the cancellation applies and any subsequent year of income, as if the reconstruction assumptions had applied for each year of income for which the property was allocated to the pool.
If the allocation of a unit of property to a pool is cancelled, the provisions of this Act relating to depreciation apply, in relation to each year of income to which the cancellation applies and any subsequent year of income, as if the reconstruction assumptions had applied for each year of income for which the property was allocated to the pool.
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