Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Once you have made a choice to allocate a * low - cost asset to a low - value pool for an income year, you must allocate all low - cost assets you start to * hold in that income year or a later one to the pool.
Note 1: This rule does not apply to low - value assets.
Note 2: If you are a small business entity for the income year and you calculate your deductions for your depreciating assets under Subdivision 328 - D, you must deduct amounts for your depreciating assets under that Subdivision unless deductions for particular assets are specifically excluded by that Subdivision.
(2) Once you allocate any * depreciating asset to a low - value pool, it must remain in the pool.