Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the first income year for which you are a * small business entity and choose to use this Subdivision, the opening pool balance of your * general small business pool is the sum of the * taxable purpose proportions of the * adjustable values of * depreciating assets allocated to the pool under subsection 328 - 185(3).
(2) For a later income year, the opening pool balance of your * general small business pool is that pool's * closing pool balance for the previous income year, reduced or increased by any adjustment required under section 328 - 225 (about change in the business use of an asset).
Note: You continue to deduct amounts using your general small business pool even if you are not a small business entity, or do not choose to use this Subdivision, for a later income year: see section 328 - 220.
(3) However, if:
(a) you are not a * small business entity for an income year or you do not choose to use this Subdivision for that year; but
(b) you are a small business entity for a later income year and you choose to use this Subdivision for the later year;
the opening pool balance of your * general small business pool includes the sum of the * taxable purpose proportions of the * adjustable values of * depreciating assets allocated to the pool under subsection 328 - 185(3) for that year.