Document ID: chunk:federal_register_of_legislation:C2004C00927:clause:6_2:p10
Version: federal_register_of_legislation:C2004C00927
Segment Type: clause
Provision Reference: sch 6 cl 2 (pt 10/10)
Character Range: 603892–605601

so that it may apply to a disposal of plant under the new depreciation provisions

  If:
 (a) you have deducted or can deduct an amount for depreciation of plant under the old depreciation provisions; and
 (b) in the 1997-98 income year or a later income year, a roll‑over event occurs for the plant;
Subdivision 41-A of the 1997 Act (Common rule 1) applies as if:
 (c) you had deducted or could deduct an amount for depreciation of the plant under the new depreciation provisions; and
 (d) if in the 1996-97 income year or an earlier income year there was a disposal of the plant where roll-over relief was available under section 58 of the 1936 Act—that Common rule had applied to the disposal.

42-410  Application of Common rule 2 where amounts deducted only under the old depreciation provisions

  If:
 (a) you have deducted or can deduct an amount for depreciation of plant under the old depreciation provisions; and
 (b) you have not deducted and cannot deduct an amount for depreciation of the plant under the new depreciation provisions; and
 (c) in the 1997-98 income year or a later income year, you dispose of the plant;
subsection 41-65(2) of the 1997 Act applies as if you had deducted or could deduct an amount for depreciation of the plant under the new depreciation provisions.

42-415  Meaning of associate

  The definition of associate in section 318 of the 1936 Act applies for the purposes of Division 42 of the 1997 Act as if paragraphs (1)(b) and (2)(a) also applied to a partnership in which the primary entity referred to in those paragraphs is or was a partner (whether or not the partnership still exists).

Part 2—Consequential amendment of the Income Tax Assessment Act 1997