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

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

301   Paragraph 124-660(a)

Repeal the paragraph, substitute:

(a) your *reduced cost base of the *depreciating asset is reduced by the *adjustable value of the asset just before the original quasi-ownership right expired or was surrendered or terminated; and