INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-E - Low-value and software development pools  

Operative provisions

SECTION 40-445   Balancing adjustment events  

40-445(1)  
If a * balancing adjustment event happens to a * depreciating asset in a low-value pool in an income year, the * closing pool balance for that year is reduced (but not below zero) by the taxable use percentage of the asset's * termination value.

40-445(2)  
If the sum of the * termination values, or the part of it, applicable under subsection (1) exceeds the * closing pool balance of the pool for that year, the excess is included in your assessable income.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.