INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 250 - Assets put to tax preferred use  

Subdivision 250-C - Denial of, or reduction in, capital allowance deductions  

SECTION 250-145   Denial of capital allowance deductions  

250-145(1)  
If this Division applies to you and an asset at a particular time, any condition that needs to be satisfied for you to be able to deduct an amount under a *capital allowance provision in relation to:


(a) a decline in the value of the asset; or


(b) expenditure in relation to the asset;

is taken not to be satisfied at that time.

250-145(2)  
This section has effect subject to section 250-150 .


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