Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 40.430

    For the purposes of Subdivision   40 - E of the Income Tax Assessment Act 1997 , you cannot allocate a depreciating asset to a low - value pool if:

  (a)   you can deduct an amount for the asset under former section   73BA of the Income Tax Assessment Act 1936 ; or

  (b)   you could so deduct an amount if you had not chosen a tax offset under former section   73I of that Act;

for a period before, or starting at the same time as, the allocation has effect.