Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if an amount (the debt forgiveness amount ) is applied in reduction of expenditure for a * depreciating asset in an income year under section 245 - 155 or 245 - 157.
(2) The asset's * cost is reduced for that income year by the debt forgiveness amount.
(3) The asset's * opening adjustable value for that income year is reduced by the debt forgiveness amount if that income year is later than the one in which its * start time occurs.