Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:3_75
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 3 cl 75
Character Range: 163212–163900

75  Subsection 104‑235(1B)
Repeal the subsection, substitute:
 (1B) CGT event K7 also happens if:
 (a) you are an *R&D entity; and
 (b) a *balancing adjustment event occurs for a *depreciating asset you *held; and
 (c) when you held the asset, you could deduct an amount under section 40‑25 for the asset if the assumptions set out in paragraph (1A)(a) were made; and
 (d) at some time when you held the asset:
 (i) you used it other than for a taxable purpose or for the purpose of conducting *R&D activities for which you were registered under section 27A of the Industry Research and Development Act 1986; or
 (ii) you had it installed ready for use other than for a taxable purpose.