INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-D - Balancing adjustments  

Operative provisions

SECTION 40-345   What the roll-over relief is  

40-345(1)  
Section 40-285 does not apply to the * balancing adjustment event for the transferor.

40-345(2)  
The transferee can deduct the decline in value of the * depreciating asset using the same method and * effective life (or * remaining effective life if that method is the * prime cost method) that the transferor was using.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.