Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)
Schedule 2 Mining
Income Tax (Transitional Provisions) Act 1997
16 At the end of Subdivision 40-D
Add:
40-365 Involuntary disposals
Section 40-365 of the new Act applies to a case where:
(a) a balancing adjustment event occurred for plant in the circumstances mentioned in subsection 42-293(2) of the former Act before 1 July 2001; and
(b) you start to hold a replacement asset or assets after that day; and
(c) the conditions in subsections 40-365(3) and (4) of the new Act are satisfied.
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