Tax Law Improvement Act (No. 1) 1998 (46 of 1998)
2 CGT (new Parts 3-1, 3-3 and 3-5)
2 Consequential amendment of the Income Tax Assessment Act 1997
10 Section 42-395
Repeal the section, substitute:
42-395 How CGT applies to pooled plant
Sections 110-55 and 110-60 (about reduced cost base) apply to a *CGT event in relation to *plant as if, for a period for which the plant was in a *pool, you had deducted amounts for depreciation of it using the pool percentage as your rate and the *diminishing value method.
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