Taxation Laws Amendment Act 1993 (17 of 1993)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 11   Amendments relating to motor vehicle depreciation limit

43   Application and transitional

(Application to acquisitions after 16 December 1992)

 

(1) Subject to this section, the amendments made by this Division apply in relation to a unit of property:
            

(a) if it was acquired by a taxpayer under a contract-if the contract was entered into after 16 December 1992; or

(b) if it was constructed by the taxpayer-if the construction commenced after that date.

(End of old publishing requirement)

      

(2) The requirement under subsection 57AF(10) of the Principal Act, as in force immediately before the commencement of the amendments made by this Division, for the Commissioner to publish a factor and amount does not apply in respect of the 1993-94 year of income or any later year of income.
            

(Start of new publishing requirement)

      

(3) The requirement under subsection 57AF(8) of the Principal Act, as amended by this Division, for the Commissioner to publish a factor and amount applies in respect of the financial year commencing on 1 July 1993 and in respect of all later financial years.