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

Schedule 3   Capital allowances

Income Tax Assessment Act 1997

59   Subsection 104-235(1A)

Repeal the subsection, substitute:

(1A) However, subsection (1) does not apply if:

(a) you are an eligible company (within the meaning of section 73B of the Income Tax Assessment Act 1936) and the *depreciating asset is a section 73BA depreciating asset (within the meaning of section 73BB of that Act); or

(b) there is roll-over relief for the *balancing adjustment event under section 40-340 of this Act; or

(c) the asset is one for which you or another entity has deducted or can deduct amounts under Subdivision 40-F or 40-G.