Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 328 - Small business entities  

Subdivision 328-D - Capital allowances for small business entities  

Special rules about roll-overs

SECTION 328-245   Consequences of roll-over  

328-245(1)  
The transferor does not subtract anything for the * balancing adjustment events under:


(a) paragraph (a) of step 2 in the method statement in section 328-200 ; or


(b) subsection 328-210(2) .

328-245(2)  
Subsection 328-215(4) does not apply to the * balancing adjustment events for the transferor.

328-245(3)  
A choice made by the transferor for a * depreciating asset under subsection 328-175(3) (about primary production assets) applies to the transferee as if it had been made by the transferee.

328-245(4)  
Sections 328-247 to 328-257 have effect.


 

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