Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p33
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 33/51)
Character Range: 93196–95874

deductions allowed or allowable to the transferee under section 73B
in respect of the years of income in relation to the unit.
(Meaning of "modified written-down value")
  "(8) For the purposes of the application of subsections (6) and (7) to the
transferee, the modified written-down value of the unit is the amount that
would have been the written-down value if:
  (a) whichever of the following is applicable:
    (i) the deductions allowed or allowable to the transferor under
section 73B in respect of one or more years of income in relation to the
unit;
    (ii) if there have been 2 or more prior successive applications of
this section - the deductions allowed or allowable to the prior successive
transferors under section 73B in respect of one or more years of income in
relation to the unit;
had been deductions allowed or allowable to the transferee under section 73B
in respect of the years of income in relation to the unit; and
  (b) whichever of the following is applicable:
    (i) the cost of the unit to the transferor (worked out as if
subsection 73B(6) had not been enacted);
    (ii) if there have been 2 or more prior successive applications of
this section - the cost of the unit to the earliest prior successive
transferor (worked out as if subsection 73B(6) had not been enacted);
had been the cost of the unit to the transferee.
(Pilot plant covered by subsection 73B(6))
  "(9) If subsection 73B(6) applied to the unit in relation to the transferor,
section 73B and this section have effect as if subsection 73B(6) applies to
the unit in relation to the transferee.
(Recoupment of expenditure - consequential amendment of assessments)
  "(10) Section 170 does not prevent the amendment at any time of an
assessment of the transferee where section 73C, 73CB or 73D has applied to:
  (a) the transferor in respect of the unit; or
  (b) if there have been 2 or more prior successive applications of this
section - any of the prior successive transferors in respect of the unit.
(Second or subsequent application of section - paragraph (1)(b) does not
apply)
  "(11) If, apart from this subsection, this section has applied to the
disposal of the unit to the transferee, then, in working out whether this
section applies to a subsequent disposal of the unit by:
  (a) the transferee; or
  (b) one or more subsequent successive transferees;
this section has effect as if paragraph (1)(b) (which deals with deductions)
had not been enacted.
(CGT roll-over relief applies to motor vehicles)
  "(12) For the purposes of this section, in addition to the effect that
section 160ZZO has apart from this subsection, that section also has the
effect that it would