Income Tax Assessment Act 1997
View history note
Hide history noteThis section applies to an entity if:
(a) the entity can deduct amounts for a * depreciating asset under Division 40 or 328 ; and
(b) the entity has a * decreasing adjustment that arises under Division 129 or 132 of the * GST Act in an income year that relates directly or indirectly to the asset; and
(c) section 27-95 does not apply to the entity in relation to the asset.
27-87(2)
The amount of the * decreasing adjustment is included in the entity ' s assessable income for the income year unless the entity is an * exempt entity.
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