INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteSubdivision D only applies to the disposal of the first asset if:
(a) the asset is a depreciable asset; and
(b) the consideration for the disposal of the asset is less than the written down value of the asset at the time of the disposal; and
(c) the market value of the asset is not more than 10% greater than the written down value of the asset at the time of the disposal; and
(d) the original cost of the asset to the transferor was less than $1 million; and
(e) the asset is not a building.
Note 1:
Written down value and original cost are defined in section 160ZZRA .
Note 2:
Subdivision D also applies to some depreciable assets as part of depreciable asset groups as a result of Subdivision C.
160ZZRDB(2) [Application of Subdiv E]Subdivision E does not have any operation in relation to an asset to which Subdivision D applies.
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