Income Tax Assessment Act 1997
CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-45
-
RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
Division 328
-
Small business entities
Subdivision 328-D
-
Capital allowances for small business entities
Operative provisions
SECTION 328-200
328-200
Closing pool balance
You work out the closing pool balance of your *general small business pool for an income year in this way: Method statement
Step 1.(a) the sum of the
*
taxable purpose proportions of the
*
adjustable values of
*
depreciating assets you started to use, or have
*
installed ready for use, for a
*
taxable purpose during the income year and that are allocated to the pool; and
(b) the taxable purpose proportion of any cost addition amounts (see subsection
328-190(3)
) for the income year for assets allocated to the pool.
Step 2.(a) the
*
taxable purpose proportions of the
*
termination values of
*
depreciating assets allocated to the pool and for which a
*
balancing adjustment event occurred during the income year; and
(b) your deduction under subsection
328-190(1)
for the pool for the income year; and
(c) your deductions under subsection
328-190(2)
for
*
depreciating assets you started to use, or have
*
installed ready for use, for a
*
taxable purpose during the income year and that are allocated to the pool; and
(d) your deductions under subsection
328-190(3)
for the income year for cost addition amounts for assets allocated to the pool.
Step 3.
View history note
Hide history noteYou work out the closing pool balance of your *general small business pool for an income year in this way: Method statement
Step 1.
Add to the * opening pool balance of the pool for the income year:
Step 2.
Subtract from the step 1 amount:
Step 3.
The result is the closing pool balance of the pool for the income year.
Note:
A transferor does not subtract anything for certain balancing adjustment events under paragraph (a) of step 2 if roll-over relief under section 40-340 is chosen: see sections 328-243 and 328-245 .
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