Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gf:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GF (pt 2/4)
Character Range: 1359790–1362386

value were or, but for any deduction denying provision, would have been allowed or allowable under this Act or the Income Tax Assessment Act 1997—the deductions were allowable on the same basis and at the same percentage as was or would have been allowed or allowable for that part of the relevant period; and
 (iii) in respect of any other part (in this subparagraph referred to as the relevant part) of the relevant period—the deductions were allowable:
 (A) where the relevant part was immediately succeeded by another part of the relevant period in respect of which deductions for depreciation or decline in value were or, but for any deduction denying provision, would have been allowed or allowable under this Act or the Income Tax Assessment Act 1997—on the same basis and at the same percentage as was or would have been allowed or allowable in respect of that other part; and
 (B) in any other case—on the same basis and at the same percentage as was or, but for any deduction denying provision, would have been allowed or allowable under this Act or the Income Tax Assessment Act 1997 in respect of the part of the relevant period for which deductions for depreciation or decline in value was or would have been allowed or allowable, being the part that immediately preceded the relevant part.
 (2) For the purposes of subsection (1):
 (a) an item of eligible depreciation property shall be taken to be dealt with by a taxpayer in the prescribed manner at a particular time if:
 (i) the item of property is used by the taxpayer at that time for the purpose of producing assessable income; or
 (ii) the item of property is, at that time, installed ready for use for the purpose of producing assessable income and held in reserve by the taxpayer; and
 (b) a reference to a deduction denying provision is a reference to a provision of this Act that would have the effect of denying an entitlement in whole or in part to a deduction otherwise wholly allowable under this Act.
 (3) Subject to subsection 159GJ(2), where any of the following amounts (in this subsection referred to as the attributable amount):
 (a) an amount of residual previous capital expenditure within the meaning of the former Division 10 or 10AA;
 (b) an amount of residual capital expenditure within the meaning of the former Division 10, 10AA or 10A;
 (c) an amount of residual (1 May 1981 to 18 August 1981) capital expenditure within the meaning of the former Division 10 or 10AA;
 (d) an amount of residual (19 August 1981 to 19 July 1982) capital expenditure within the meaning of the former Division 10 or 10AA;