Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)
Schedule 3 Capital allowances
Income Tax Assessment Act 1997
35 At the end of section 40-300
Add:
(3) The termination value of a *depreciating asset does not include an amount that is included in assessable income as *ordinary income under section 6-5 or as *statutory income under section 6-10 (except an amount that is statutory income under this Division).
Note: Termination value may be adjusted under Subdivision 27-B so that any GST consequences are accounted for.
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