Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Division 40 of the new Act applies as if references in that Division to the car limit included references to:
(a) the car depreciation limit under Division 42 of the former Act; and
(b) the motor vehicle depreciation limit under former section 57AF of the Income Tax Assessment Act 1936 .
(2) If you:
(a) have a substituted accounting period; and
(b) start to hold a car in your 2001 - 02 income year but before 1 July 2001;
you must use as the car limit the car depreciation limit under section 42 - 80 of the former Act for the 2000 - 01 financial year.
Table of sections
40 - 285 Balancing adjustments
40 - 287 Disposal of pre - 1 July 2001 mining depreciating asset to associate
40 - 288 Disposal of pre - 1 July 2001 mining non - depreciating asset to associate
40 - 289 Surrendered firearms
40 - 290 Reduction of deductions under former Act etc.
40 - 292 Balancing adjustment--assets used for both general tax purposes and R&D activities
40 - 293 Balancing adjustment--partnership assets used for both general tax purposes and R&D activities
40 - 295 Later year relief
40 - 340 Roll - overs
40 - 345 Balancing adjustments for depreciating assets that retain CGT indexation
40 - 365 Involuntary disposals