Income Tax Assessment Act 1997



Division 250 - Assets put to tax preferred use  

Subdivision 250-F - Treatment of asset when Division ceases to apply to the asset  

SECTION 250-290   Balancing adjustment under Subdivision 40-D in some circumstances  

This section applies if:

(a) this Division applies to you and an asset; and

(b) the *arrangement period for the *tax preferred use of the asset ends because a particular event happens; and

(c) the event would have been a *balancing adjustment event for the asset for the purposes of Subdivision 40-D if this Division had not applied to you and the asset when the event happened.

A balancing adjustment is made under Subdivision 40-D as if:

(a) the event were a *balancing adjustment event for the asset; and

(b) the *adjustable value of the asset, just before the event happened, were the adjustable value worked out under subsection 250-285(1) ; and

(c) sections 40-290 , 40-291 , 40-292 and 40-293 did not apply.


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