INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 42 - Depreciation  

SECTION 42-410 (ARCHIVE)  

42-410   Application of Common rule 2 where amounts deducted only under the old depreciation provisions  
If:

(a) you have deducted or can deduct an amount for depreciation of plant under the old depreciation provisions; and

(b) you have not deducted and cannot deduct an amount for depreciation of the plant under the new depreciation provisions; and

(c) in the 1997-98 income year or a later income year, you dispose of the plant;

subsection 41-65(2) of the 1997 Act applies as if you had deducted or could deduct an amount for depreciation of the plant under the new depreciation provisions.

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