Taxation Laws Amendment (Research and Development) Act 2001 (170 of 2001)

Schedule 2   Plant etc.

Part 3   Effective life basis for deduction

Division 2   Amendments commencing immediately after the New Business Tax System (Capital Allowances) Act 2001

Income Tax Assessment Act 1997

82A   Subsection 118-24(1)

Omit "*depreciating asset is", substitute "*depreciating asset or a section 73BA depreciating asset (within the meaning of section 73BB of the Income Tax Assessment Act 1936) is".

Note: The heading to section 118-24 is altered by adding at the end " and section 73BA depreciating assets ".