New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1936
64 Subsection 159GE(1) (definition of depreciation deduction )
Repeal the definition, substitute:
depreciation deduction means a deduction:
(a) in respect of depreciation under Division 3 of this Act or the former Division 42 of the Income Tax Assessment Act 1997; or
(b) for the decline in value of a depreciating asset under Division 40 of the Income Tax Assessment Act 1997.
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