Document ID: chunk:federal_register_of_legislation:C2010C00262:clause:3_6
Version: federal_register_of_legislation:C2010C00262
Segment Type: clause
Provision Reference: sch 3 cl 6
Character Range: 32059–32873

6  Subsection 328‑175(1)
Repeal the subsection, substitute:

 (1) You can choose to calculate your deductions and some amounts of assessable income under this Subdivision instead of under Division 40 for an income year for all the *depreciating assets that you *hold if:
 (a) you are a *small business entity for the income year; and
 (b) you started to use the assets or have them *installed ready for use, for a *taxable purpose during or before that income year.
This subsection has effect subject to subsections (2) to (10).

Note: If you choose to use this Subdivision for an income year, you continue to use this Subdivision for your small business pools for a later income year even if you are not a small business entity, or do not choose to use this Subdivision, for the later year: see section 328‑220.