Tax Law Improvement Act 1997 (121 of 1997)

Schedule 6   Depreciation

Part 2   Consequential amendment of the Income Tax Assessment Act 1997

40   At the end of section 330-545

Add:

(3) Section 330-552 extends the application of some provisions of Common rule 1 in those cases.

Note: Section 330-75 of the Income Tax (Transitional Provisions) Act 1997 modifies the application of Common rule 1 if you have deducted amounts in respect of property under the Income Tax Assessment Act 1936 and in the 1997-98 income year or a later income year you dispose of the property.