Commonwealth Consolidated Acts

NEW BUSINESS TAX SYSTEM (CAPITAL ALLOWANCES--TRANSITIONAL AND CONSEQUENTIAL) ACT 2001

TABLE OF PROVISIONS

           Long Title

   1.      Short title  
   2.      Commencement  
   3.      Schedule(s)  

           Division 40--Capital allowances

              Subdivision 40-B--Core provisions

   40.10.  Plant  
   40.12.  Plant acquired after 30 June 2001  
   40.15.  Recalculating effective life  
   40.20.  IRUs  
   40.25.  Software  
   40.30.  Spectrum licences  
   40.33.  Datacasting transmitter licences  
   40.35.  Mining unrecouped expenditure  
   40.40.  Transport expenditure  
   40.45.  Intellectual property  
   40.50.  Forestry roads and timber mill buildings  
   40.55.  Environmental impact assessment  
   40.60.  Pooling under Subdivision 42-L of the former Act  
   40.65.  Substituted accounting periods  
   40.70.  References to amounts deducted and reductions in deductions  
   40.75.  Mining expenditure incurred after 1 July 2001 on an asset  
   40.77.  Mining, quarrying or prospecting rights or information held before 1 July 2001  
   40.80.  Other expenditure incurred after 1 July 2001 on a depreciating asset  
   40.85.  Excess deductions  

              Subdivision 40-C--Cost

   40.230. Car limit  

              Subdivision 40-D--Balancing adjustments

   40.285. Balancing adjustments  
   40.290. Reduction of deductions under former Act etc.  
   40.295. Later year relief  
   40.340. Roll-overs  
   40.345. Balancing adjustments for depreciating assets that retain CGT indexation  

              Subdivision 40-E--Low-value and software development pools

   40.420. Low-value pools under Division 42 continue  
   40.425. Allocating depreciating assets to low-value pools  
   40.450. Software development pools  

              Subdivision 40-F--Primary production depreciating assets

   40.515. Water facilities, grapevines and horticultural plants  
   40.520. Special rule for water facilities you no longer hold  
   40.525. Amounts deducted for water facilities  

              Subdivision 40-G--Capital expenditure of primary producers and other landholders

   40.645. Electricity supply and telephone lines  
   40.650. Special rule for land that you no longer hold  
   40.670. Farm consultants  

              Subdivision 40-I--Capital expenditure that is deductible over time

   40.825. Genuine prospectors  
   49B.    Special rules for fixtures that are depreciating assets--Income Tax Assessment Act 1997  

           50B. Acquisition of depreciating asset from the Commonwealth--Division 40 of the Income Tax Assessment Act 1997  

           51B. Acquisition of depreciating asset from the FAC--Division 40 of the Income Tax Assessment Act 1997  
           ubdivision A--of Division 3 of Part III
           ubdivision 40-F
           ubdivision 40-F
           ubdivision 40-G
           ubdivision 40-G
           ubdivision 40-G
           ubdivision 170-A
           ubdivision H--of Division 3 of Part III

              Subdivision 57-N--Division not applicable in respect of certain plant

   57.130. Plant or depreciating assets covered by Subdivision 58-B of the Income Tax Assessment Act 1997  

              Subdivision 27-A--General

              Subdivision 27-B--Division 40

           Division 58--Capital allowances for depreciating assets previously owned by an exempt entity

   58.1.   What this Division is about  

              Subdivision 58-A--Application

   58.5.   Application of Division  
   58.10.  When an asset is acquired in connection with the acquisition of a business  

              Subdivision 58-B--Calculating decline in value of privatised assets under Division 40

   58.60.  Purpose of rules in this Subdivision  
   58.65.  Choice of method to work out cost of privatised asset  
   58.70.  Application of Division 40  
   58.75.  Meaning of notional written down value  
   58.80.  Meaning of undeducted pre-existing audited book value  
   58.85.  Pre-existing audited book value of depreciating asset  
   58.90.  Method for transition entity  
   104.235.Balancing adjustment events for depreciating assets: CGT event K7  
   104.240.Working out capital gain or loss for CGT event K7: general case  
   104.245.Working out capital gain or loss for CGT event K7: pooled assets  
   108.60. Depreciating asset that is part of a building is a separate asset  
   118.24. Depreciating assets  

              Subdivision 124-K--Depreciating assets

   124.655.Roll-over for depreciating assets  

              Subdivision 138-B--Value shifts involving depreciating asset that is plant

   138.370.Condition for applying this Division to depreciating asset group  
   900.120.Written evidence of depreciating asset expense