Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteThis section applies for the purposes of applying Subdivision 328-D of the Income Tax Assessment Act 1997 for the 2012-13 income year and later income years.
328-200(2)
A depreciating asset that had been allocated to your long life small business pool is treated as being allocated to your general small business pool.
328-200(3)
The opening pool balance of your general small business pool for the 2012-13 income year is taken to be the sum of:
(a) the closing pool balance of your general small business pool for the 2011-12 income year, reduced or increased by any adjustment required under section 328-225 of that Act; and
(b) the closing pool balance of your long life small business pool for the 2011-12 income year, reduced or increased by any adjustment required under that section.
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