Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p32
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 32/51)
Character Range: 90878–93438

unit were a reference to the
modified written-down value of the unit; and
  (c) subsection 56(1A) had effect, in relation to the year of income of the
transferee in which the disposal took place, as if a day in that year of
income on which the unit was dealt with in the prescribed manner (within the
meaning of that subsection) by the transferor were treated as if it were a day
in that year of income on which the unit was dealt with in the prescribed
manner (within the meaning of that subsection) by the transferee.
(Disposal by transferee where no roll-over relief - inheritance of
transferor's cost and deductions)
  "(7) If:
  (a) after the disposal of the unit to the transferee, the unit is lost or
destroyed or the transferee disposes of the unit; and
  (b) in the case of a disposal by the transferee - this section does not
apply to the disposal;
then, for the purposes of the application of subsection 73B(23) or (24), as
the case may be,  in relation to the loss, destruction or disposal, those
subsections have effect as if:
  (c) a reference in those subsections to the written-down value of the unit
were a reference to the modified written-down value of the unit; and
  (d) a reference in those subsections, and in the definition of 'ineligible
pilot plant amount' in subsection 73B(1), to the cost of the unit were a
reference to:
    (i) the cost of the unit to the transferor (worked out as if
subsection 73B(6) had not been enacted); or
    (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); and
  (e) a reference in paragraph 73B(24)(f) to a year of income in respect of
which a deduction has been allowed under section 73B to the transferee in
respect of the unit were worked out on the basis that 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.
(Meaning of "modified written-down value")
  "(8) For the purposes of the application of subsections (6) and (7) to