Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 328 - Small business entities  

SECTION 328-185   Depreciating assets allocated to STS pools  

Assets allocated to general STS pool

328-185(1)    
A depreciating asset of yours that had been allocated to your general STS pool is treated as being allocated to your general small business pool.

Assets allocated to long life STS pool

328-185(2)    
A depreciating asset of yours that had been allocated to your long life STS pool is treated as being allocated to your long life small business pool.

Choice not to allocate assets to long life STS pool

328-185(3)    
If you made a choice, under subsection 328-185(5) of old Subdivision 328-D, not to have a depreciating asset allocated to your long life STS pool, the choice has effect for the purposes of subsection 328-185(5) of new Subdivision 328-D .

Note:

This means you cannot change the choice: see subsection 328-185(6) of new Subdivision 328-D .