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

Schedule 2   General consequential amendments

Income Tax Assessment Act 1936

69   Subsection 159GE(1) (definition of eligible depreciation property )

Repeal the definition, substitute:

eligible depreciation property means:

(a) plant or articles within the meaning of section 54 of this Act; or

(b) plant within the meaning of the former section 42-18 of the Income Tax Assessment Act 1997 or plant within the meaning of section 45-40 of that Act; or

(c) a depreciating asset within the meaning of Division 40 of that Act.