Document ID: chunk:federal_register_of_legislation:C2004C01190:clause:2_319
Version: federal_register_of_legislation:C2004C01190
Segment Type: clause
Provision Reference: sch 2 cl 319
Character Range: 195827–196457

319  Subsection 165‑115V(7)
Repeal the subsection, substitute:

 (7) This subsection applies to an asset at the alteration time if:
 (a) the asset is a *depreciating asset (not a building or structure) for whose decline in value the company has deducted or can deduct an amount; and
 (b) the expenditure incurred by the company to *acquire the asset was less than $1,000,000 (the expenditure can include the giving of property: see section 103‑5); and
 (c) it would be reasonable for the company to conclude that the market value of the asset at the alteration time was not less than 80% of its *written down value at that time.