New Business Tax System (Capital Allowances) Act 2001 (76 of 2001)

Schedule 3   Second-hand plant

Income Tax Assessment Act 1997

3   Application

The amendments made by this Schedule apply to plant:

(a) you start to own or be the quasi-owner of under a contract entered into at or after 10 am, by legal time in the Australian Capital Territory, on 9 May 2001; or

(b) you constructed where the construction started at or after that time; or

(c) you start to own or be the quasi-owner of in some other way at or after that time.