INCOME TAX ASSESSMENT ACT 1997 - SECT 40.325 Adjustment: car limit

INCOME TAX ASSESSMENT ACT 1997 - SECT 40.325

    The termination value of a * car the * cost of which was worked out by applying section   40 - 230 (Car limit) is the amount worked out under subsection   40 - 300(1) multiplied by the fraction:

where:

"CL" is the * car limit for the * car for the * financial year in which you first used it for any purpose.