Income Tax Assessment Act 1997
View history note
Hide history noteThe *transition entity must, in working out the decline in value of a *privatised asset, use the *diminishing value method or the *prime cost method for the asset that it used to work out the *notional written down value, or the *undeducted pre-existing audited book value, of the asset.
58-90(2)
In working out the decline in value of a *privatised asset held by a *transition entity:
(a) if section 40-102 applied to the asset for the purposes of subsection 58-75(5A) - section 40-102 applies to the asset and applies as if the relevant time for the asset for the purposes of that section were the *transition time; or
(b) if section 40-102 did not apply to the asset for the purposes of subsection 58-75(5A) or section 58-80 - section 40-102 does not apply to the asset.
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