Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (92 of 2020)

Schedule 7   Temporary full expensing of depreciating assets

Part 3   Consequential amendments

Income Tax Assessment Act 1997

25   Paragraph 705-45(2)(b)

Repeal the paragraph, substitute:

(b) any of the following has applied before the joining entity became a *subsidiary member for the purposes of working out the asset's decline in value under Division 40:

(i) section 40-82;

(ii) Subdivision 40-BA of the Income Tax (Transitional Provisions) Act 1997;

(iii) Subdivision 40-BB of that Act; and