Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section sets out adjustments you may have to make if a * balancing adjustment event occurs for a * depreciating asset for which you calculate your deductions under this Subdivision.
(2) If the asset is allocated to your * general small business pool and:
(a) the * closing pool balance of the pool for the income year in which the event occurred is less than zero; or
(b) the amount worked out under subsection 328 - 210(2) for that income year is less than zero;
the amount by which that balance or amount is less than zero is included in your assessable income for that year.
(3) In that case, the * closing pool balance of the pool for that income year then becomes zero.
(4) If the asset was one for which you deducted an amount under section 328 - 180 (about assets costing less than $1,000), you include the * taxable purpose proportion of the asset's * termination value in your assessable income.