Document ID: chunk:federal_register_of_legislation:C2025C00029:section:12:p15
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 12 (pt 15/34)
Character Range: 5113550–5116275

328‑225 for the asset—the proportion you estimated under subsection (1) or (2); or
 (b) if you have had to make at least one such adjustment—the average of:
 (i) the proportion you estimated under subsection (1) or (2); and
 (ii) the proportion applicable to the asset for each of the 3 income years you *held the asset after the one in which the asset was allocated to the pool.
Example: When Bria's computer was allocated to her general small business pool for the 2012‑13 income year, she estimated that it would be used 50% for her florist business. Due to increasing business, Bria estimates the computer's use to be 70% for the 2013‑14 year, and 90% for the 2014‑15 year. She makes an adjustment under section 328‑225 for both those years.
 Bria sells the computer for $1,000 at the start of the 2016‑17 income year. She must now average the business use estimates for the computer for the year it was allocated to the pool and the next 3 years to work out the taxable purpose proportion of its termination value. The average is worked out as follows:
              *       50% (original estimate); plus
              *       70% (2013‑14 estimate); plus
              *       90% (2014‑15 estimate); plus
              *       90% (no change on previous year);
            =300% ÷ 4 = 75%
 The taxable purpose proportion of the computer's termination value is, therefore:
 75% of $1,000 = $750

328‑210  Low pool value
 (1) Your deduction for a *general small business pool for an income year is the amount worked out under subsection (2) (instead of an amount calculated under section 328‑190) if that amount is less than $1,000 but more than zero.
Note 1: See section 328‑215 for the result when the amount is less than zero.
Note 2: This threshold may be affected by section 328‑180 (about temporary increased access to accelerated depreciation) or 328‑181 (about temporary full expensing) of the Income Tax (Transitional Provisions) Act 1997.
 (2) The amount is the sum of:
 (a) the pool's *opening pool balance for the income year; and
 (b) the *taxable purpose proportion of the *adjustable value of each *depreciating asset you started to use, or have *installed ready for use, for a *taxable purpose during the income year and that is allocated to the pool; and
 (c) the taxable purpose proportion of any cost addition amounts (see subsection 328‑190(3)) for the income year for assets allocated to the pool;
less the sum of the taxable purpose proportion of the *termination values of depreciating assets allocated to the pool and for which a *balancing adjustment event occurred during the income year.
 (3) In that case, the *closing pool balance of the pool for that income year then becomes zero.
Example: