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.