Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) You calculate your deduction for your * general small business pool for an income year using this formula:
Note: You use section 328 - 210 instead if the pool has a low pool value.
(2) Your deduction for each * depreciating asset that you start to use, or have * installed ready for use, for a * taxable purpose during an income year for which you are a * small business entity and choose to use this Subdivision is 15% of the * taxable purpose proportion of its * adjustable value.
(3) You can also deduct for an income year for which you are a * small business entity and choose to use this Subdivision the amount worked out under subsection (4) for an amount (the cost addition amount ) included in the second element of the * cost of a * depreciating asset for that year if you started to use the asset, or have it * installed ready for use, for a * taxable purpose during an earlier income year.
Note: The second element of cost is worked out under section 40 - 190.
(4) The amount you can deduct is 15% of the * taxable purpose proportion of the cost addition amount.
Note: The amounts that a transferor and transferee can deduct under this section are modified if roll - over relief under section 40 - 340 is chosen: see sections 328 - 243 and 328 - 247.