Income Tax Assessment Act 1997
For * plant to which subsection 45-30(3) applies there is a limit on the amount that can be included in your assessable income under subsection 45-5(2) or 45-10(2) . 45-35(2)
The limit for subsection 45-5(2) is the lesser of:
(a) the excess referred to in paragraph 45-5(1)(e) ; and
(b) the amounts you have deducted or can deduct for the decline in value of the * plant or, if you disposed of an interest in the plant, so much of those amounts as is attributable to that interest.
The limit for subsection 45-10(2) is the lesser of:
(a) the excess referred to in paragraph 45-10(1)(f) ; and
(b) that part of the amounts the partnership has deducted or can deduct for the decline in value of the * plant that has been or would be reflected in your interest in the partnership net income or partnership loss (your partnership amount ) or, if you disposed of part of your interest in the plant, so much of your partnership amount as is attributable to that part of that interest.
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