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

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

417   Subsection 995-1(1)

Insert:

notional adjustable value of a *depreciating asset means its *adjustable value reduced by the amounts assumed under subsection 320-255(6) to have been deducted for its decline in value.