Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 40.365

    Section   40 - 365 of the new Act applies to a case where:

  (a)   a balancing adjustment event occurred for plant in the circumstances mentioned in subsection   42 - 293(2) of the former Act before 1   July 2001; and

  (b)   you start to hold a replacement asset or assets after that day; and

  (c)   the conditions in subsections   40 - 365(3) and (4) of the new Act are satisfied.

Table of sections

40 - 420   Low - value pools under Division   42 continue

40 - 430   Allocating assets to low - value pools

40 - 450   Software development pools