Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a depreciating asset that was transferred from the FAC to a company under section 30.
(2) The Finance Minister may make a written determination of the cost of the asset for the purposes of Division 40 of the Income Tax Assessment Act 1997 .
Note: If a determination is made, the cost of the plant will be determined under item 10 of the table in subsection 40 - 180(2) of the Income Tax Assessment Act 1997 .
(3) The FAC must give the Finance Minister such information as the Finance Minister requires about the application of Subdivision 40 - D of the Income Tax Assessment Act 1997 to the asset and to the FAC.