S 73BB repealed by No 93 of 2011, s 3 and Sch 3 item 44, effective 8 September 2011. For application, savings and transitional provisions see note under s
82KZLB
. S 73BB formerly read:
SECTION 73BB MEANING OF
SECTION 73BA DEPRECIATING ASSET
73BB(1)
A
section 73BA depreciating asset
of an eligible company is an asset for which the eligible company could (ignoring section
73BA
) deduct an amount under section
40-25
of the
Income Tax Assessment Act 1997
if the following assumptions were made:
(b)
contrary to paragraph
40-30(1)(c)
and subsection
40-30(2)
of that Act, all intangible assets were excluded from the definition of
depreciating asset
in section
40-30
of that Act;
(c)
subsection
40-45(2)
of that Act did not, except in the case of buildings, prevent that Division from applying to capital works to which Division
43
of the
Income Tax Assessment Act 1997
applies, or to which that Division would apply but for expenditure being incurred, or capital works being started, before a particular day;
(d)
the eligible company satisfied any relevant requirement for deductibility under that Division.
[
CCH Note:
S 73BB(1)(a) omitted from Bill.]
73BB(2)
In this section:
eligible company
has the same meaning as in section
73B
.
S 73BB inserted by No 170 of 2001.
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