Income Tax (Transitional Provisions) Act 1997
Subsections 40-65(6) and (7) of the Income Tax Assessment Act 1997 apply with the changes set out in this section if either or both of the following events have happened:
(a) you have deducted one or more amounts under former section 73BA of the Income Tax Assessment Act 1936 for an asset;
(b) you could have deducted one or more amounts under that former section for the asset if you had not chosen tax offsets under former section 73I of that Act. 40-67(2)
(a) paragraph 40-65(6)(a) of the Income Tax Assessment Act 1997 included both events set out in subsection (1) of this section; and
(b) subsections 40-65(6) and (7) of that Act deal with all 4 kinds of events in a corresponding way to the way that they deal with 2 kinds of events.
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