Document ID: chunk:federal_register_of_legislation:C2010C00615:clause:1_17
Version: federal_register_of_legislation:C2010C00615
Segment Type: clause
Provision Reference: sch 1 cl 17
Character Range: 21588–22779

17  At the end of section 165‑115F
Add:

 (5) A company may choose that this section is to apply to the company at the relevant time in respect of an asset to which subsection (6) applied at that time as if references to the *market value of the asset were references to its *written down value.

 (6) This subsection applies to an asset at the relevant time if:
 (a) the asset is *plant (not a building or structure) for which the company has deducted or can deduct an amount for depreciation; and
 (b) the expenditure incurred by the company to *acquire the plant was less than $1,000,000 (the expenditure can include the giving of property: see section 103‑5); and
 (c) it would be reasonable for the company to conclude that the *market value of the plant at that time was not less than 80% of its *written down value at that time.

 (7) The Commissioner may give advice, in any way that he or she thinks appropriate, about methods to be used, and other things to be done, in valuing assets for the purposes of this Subdivision (including, where consistent with those purposes, the grouping together of assets) with the object of reducing the costs of compliance with this Subdivision.