Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if you chose to stop being an STS taxpayer for the 2005 - 06 income year or the 2006 - 07 income year.
(2) You cannot choose to use new Subdivision 328 - D to deduct amounts for your depreciating assets until at least 5 years after the income year for which you chose to stop being an STS taxpayer.
Note: Subdivision 328 - D of the Income Tax Assessment Act 1997 continues to apply to depreciating assets that have been allocated to your small business pools even if you are not a small business entity, or do not choose to use that Subdivision, for an income year: see section 328 - 220 of that Subdivision.