New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

364   Subsection 995-1(1) (definition of closing balance )

Repeal the definition, substitute:

closing pool balance has the meaning given by:

(a) for a low-value pool - section 40-440; or

(b) for a *general STS pool or a *long life STS pool - section 328-200.