INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-10
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CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
Division 42
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Depreciation
SECTION 42-380 (ARCHIVE)
42-380
Meaning of
opening balance
The component ``closing balance for last year'' in the formula in section 42-380 is, for the 1997-98 income year, the closing balance of the pool for the preceding year worked out under section 62AAO of the 1936 Act.
The component ``closing balance for last year'' in the formula in section 42-380 is, for the 1997-98 income year, the closing balance of the pool for the preceding year worked out under section 62AAO of the 1936 Act.
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