New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1936
38 Subsection 73E(3)
Repeal the subsection, substitute:
No deduction for decline in value for transferor in year of disposal
(3) A deduction under the former Division 42 (Depreciation) or Subdivision 40-B (Capital allowances) of the Income Tax Assessment Act 1997 is not allowable to the transferor in respect of the unit in relation to the year of income in which the disposal took place.
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