Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)

Schedule 3   Capital allowances

Income Tax Assessment Act 1936

3   At the end of section 57-130 of Schedule 2D

Add:

(2) Despite subsection (1), Subdivision 57-J applies for the purposes of section 40-35 of the Income Tax (Transitional Provisions) Act 1997 to capital expenditure incurred by a transition taxpayer before 1 July 2001 that relates to property that is not a depreciating asset.