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

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

312   Subsection 138-365(3)

Repeal the subsection, substitute:

(3) An additional condition for allocating a *CGT asset to a *depreciating asset group is that the asset is *plant for whose decline in value the originating company has deducted or can deduct an amount.