Taxation Laws Amendment (Research and Development) Act 2001 (170 of 2001)

Schedule 2   Plant etc.

Part 3   Effective life basis for deduction

Division 1   Amendments commencing at 12 pm on 29 January 2001

Income Tax Assessment Act 1997
41   At the end of section 42-455

Add:

(4) However, you cannot choose to allocate *low-cost plant to a *low-value pool if you can deduct an amount for the plant under section 73BH of the Income Tax Assessment Act 1936 for a period before, or starting at the same time as, the allocation would have effect.