Document ID: chunk:federal_register_of_legislation:C2004A00846:clause:1_1:p13
Version: federal_register_of_legislation:C2004A00846
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 13/21)
Character Range: 30873–33484

*taxable purpose while you were an *STS taxpayer:
 (b) for an asset you started to use, or have *installed ready for use, for a taxable purpose while you were not an STS taxpayer:
where:

n is the number of income years (counting part of an income year as a whole year) before the present year for which you have deducted or can deduct an amount for the *depreciating asset under this Subdivision.

rate is the rate applicable to the pool to which the asset is allocated.

Note: The reduction factor for a depreciating asset in your general STS pool which you started to use, or have installed ready for use, for a taxable purpose while you were not an STS taxpayer is:
                  *   0.7 for the income year after it is allocated to the pool; and
                  *   0.49 for the income year after that; and
                  *   0.343 for the income year after that.

 The reduction factor for a depreciating asset in your general STS pool which you started to use, or have installed ready for use, for a taxable purpose while you were an STS taxpayer is:
                  *   0.85 for the income year after it is allocated to the pool; and
                  *   0.595 for the income year after that; and
                  *   0.417 for the income year after that.

Exceptions

 (5) However:
 (a) you do not need to make an estimate or an adjustment under this section for a *depreciating asset for an income year that is at least:
 (i) for an asset allocated to a *general STS pool—3 income years after the income year in which it was allocated; or
 (ii) for an asset allocated to a *long life STS pool—20 income years after the income year in which it was allocated; and
 (b) you cannot make an adjustment for a depreciating asset if your reasonable estimate of the proportion you use a depreciating asset, or have it *installed ready for use, for a *taxable purpose changes in a later income year by the 10 percentage points mentioned in subsection (1) or less.

328‑230  Estimate where deduction denied

  This Subdivision applies to you as if you had estimated that you will not use, or have *installed ready for use, a *depreciating asset at all for a *taxable purpose during an income year if a provision of this Act outside this Division denies a deduction for the asset for that year.

328‑235  Interaction with Divisions 85 and 86

 (1) Despite sections 85‑10 and 86‑60, as an *STS taxpayer you can deduct amounts for *depreciating assets under this Subdivision.

 (2) However, you cannot deduct an amount for a *car under this Subdivision if, had you not chosen to be an *STS taxpayer,