Document ID: chunk:federal_register_of_legislation:C2005C00282:clause:2_73bb
Version: federal_register_of_legislation:C2005C00282
Segment Type: clause
Provision Reference: sch 2 cl 73BB
Character Range: 52541–53539

73BB  Meaning of section 73BA depreciating asset

 (1) A section 73BA depreciating asset of an eligible company is an asset for which the eligible company could (ignoring section 73BA) deduct an amount under section 40‑25 of the Income Tax Assessment Act 1997 if the following assumptions were made:
 (b) contrary to paragraph 40‑30(1)(c) and subsection 40‑30(2) of that Act, all intangible assets were excluded from the definition of depreciating asset in section 40‑30 of that Act;
 (c) subsection 40‑45(2) of that Act did not, except in the case of buildings, prevent that Division from applying to capital works to which Division 43 of the Income Tax Assessment Act 1997 applies, or to which that Division would apply but for expenditure being incurred, or capital works being started, before a particular day;
 (d) the eligible company satisfied any relevant requirement for deductibility under that Division.

 (2) In this section:

eligible company has the same meaning as in section 73B.