INCOME TAX ASSESSMENT ACT 1997 - SECT 40.345 What the roll - over relief is

INCOME TAX ASSESSMENT ACT 1997 - SECT 40.345

  (1)   Section   40 - 285 does not apply to the * balancing adjustment event for the transferor.

  (2)   The transferee can deduct the decline in value of the * depreciating asset using the same method and * effective life (or * remaining effective life if that method is the * prime cost method) that the transferor was using.