Document ID: chunk:federal_register_of_legislation:C2010C00685:clause:10_51a
Version: federal_register_of_legislation:C2010C00685
Segment Type: clause
Provision Reference: sch 10 cl 51A
Character Range: 144843–145548

51A  Acquisition of depreciated plant from the FAC—Income Tax Assessment Act 1997

 (1) This section applies to a unit of plant that was transferred from the FAC to a company under section 30.

 (2) The Minister for Finance may make a written determination of the cost of the plant for the purposes of Division 42 of the Income Tax Assessment Act 1997.

Note: If a determination is made, the cost of the plant will be determined under item 13 or 14 in the table in section 42‑65 of that Act.

 (3) The FAC must give the Minister for Finance such information as the Minister for Finance requires about the application of Subdivision 42‑F of the Income Tax Assessment Act 1997 to the plant and to the FAC.