Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 328 - Small business entities  

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History

Div 328 (heading) substituted by No 80 of 2007 , s 3 and Sch 3 item 164, applicable in relation to the 2007-08 income year and later income years. The heading formerly read:

Division 328 - STS taxpayers

Div 328 inserted by No 41 of 2005.

Div 328 inserted by No 41 of 2005.

SECTION 328-175   Choices made in relation to depreciating assets used in primary production business  

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328-175(1)    
This section applies if:

(a) you were an STS taxpayer for an income year; and

(b) you made a choice under subsection 328-175(3) of old Subdivision 328-D in relation to a depreciating asset you use to carry on a primary production business and for which you could deduct amounts under Subdivision 40-F or 40-G of the Income Tax Assessment Act 1997 .

328-175(2)    
The choice has effect for the purposes of subsection 328-175(3) of new Subdivision 328-D .

Note:

This means you cannot change the choice: see subsection 328-175(4) of new Subdivision 328-D .

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History

S 328-175 inserted by No 80 of 2007 , s 3 and Sch 3 item 173, applicable in relation to the 2007-08 income year and later income years.

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