New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Bounty and Capitalisation Grants (Textile Yarns) Act 1981

16   Paragraph 3(3)(p)

Repeal the paragraph, substitute:

(p) depreciation of machinery, plant or equipment, other than:

(i) depreciation of the machinery, plant or equipment that is an allowable deduction to the producer under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997; or

(ii) depreciation of the machinery, plant or equipment for which the producer can deduct amounts under Division 40 of the Income Tax Assessment Act 1997;