Document ID: chunk:federal_register_of_legislation:C2010C00262:clause:3_29
Version: federal_register_of_legislation:C2010C00262
Segment Type: clause
Provision Reference: sch 3 cl 29
Character Range: 36868–37524

29  Subsection 328‑185(7) (example)
Repeal the example, substitute:

Example: Greg is not a small business entity for the 2008‑09 income year. At that time his long life small business pool contains one depreciating asset with an effective life of 26 years. Greg still holds that asset in the 2010‑11 income year. Greg is a small business entity for that income year and chooses to use this Subdivision. The asset has remained in the pool since the end of the 2008‑09 income year. The asset is not re‑allocated when he recommences deducting amounts for depreciating assets under this Subdivision, even though its remaining effective life is now 24 years.