Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 328.175

  (1)   This section applies if:

  (a)   you were an STS taxpayer for an income year; and

  (b)   you made a choice under subsection   328 - 175(3) of old Subdivision   328 - D in relation to a depreciating asset you use to carry on a primary production business and for which you could deduct amounts under Subdivision   40 - F or 40 - G of the Income Tax Assessment Act 1997 .

  (2)   The choice has effect for the purposes of subsection   328 - 175(3) of new Subdivision   328 - D.

Note:   This means you cannot change the choice: see subsection   328 - 175(4) of new Subdivision   328 - D.