INCOME TAX ASSESSMENT ACT 1997 - SECT 40.445 Balancing adjustment events
INCOME TAX ASSESSMENT ACT 1997 - SECT 40.445
Balancing adjustment events(1) If a * balancing adjustment event happens to a * depreciating asset in a low - value pool in an income year, the * closing pool balance for that year is reduced (but not below zero) by the taxable use percentage of the asset's * termination value.
(2) If the sum of the * termination values, or the part of it,
applicable under subsection (1) exceeds the * closing pool balance of
the pool for that year, the excess is included in your assessable income.