Income Tax Assessment Act 1997



Division 328 - Small business entities  

Subdivision 328-D - Capital allowances for small business entities  

Special rules about roll-overs

SECTION 328-257   Taxable use  

This section applies to * depreciating assets (the previously held assets ) that were * held by the transferor just before the * balancing adjustment events occurred.

Subsection 328-205(1) (about estimates of taxable use) does not apply to previously held assets in the hands of the transferee for the BAE year. Instead, the transferee uses for the BAE year:

(a) the estimate made by the transferor under that subsection for the asset; or

(b) if the transferor had made one or more estimates for the asset under subsection 328-255(1) that resulted in an adjustment under section 328-225 (about change in business use) - that estimate or the most recent of those estimates.

Section 328-225 applies to the transferee for each previously held asset for income years after the BAE year as if:

(a) the transferee had * held the asset during the period that the transferor held it; and

(b) estimates applicable to the transferor for the asset under that section were also applicable to the transferee.


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