Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteFor the purposes of Subdivision 40-E of the Income Tax Assessment Act 1997 , you cannot allocate a depreciating asset to a low-value pool if:
(a) you can deduct an amount for the asset under former section 73BA of the Income Tax Assessment Act 1936 ; or
(b) you could so deduct an amount if you had not chosen a tax offset under former section 73I of that Act;
for a period before, or starting at the same time as, the allocation has effect.
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