INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
The total depreciation allowable to a taxpayer under this Act in relation to a year of income in respect of all the units of property allocated to a pool for the year of income is worked out using the formula:
|1.5 × Pool percentage × Opening balance|
``Pool percentage'' means the pool percentage for the pool;
``Opening balance'' means the opening balance of the pool for the year of income.62AAP(2) [Application]
This section applies in spite of section 56 .