Document ID: chunk:federal_register_of_legislation:C2014C00703:clause:4_13
Version: federal_register_of_legislation:C2014C00703
Segment Type: clause
Provision Reference: sch 4 cl 13
Character Range: 200822–201346

13  After section 40‑420
Insert:

40‑430  Allocating assets to low‑value pools
  For the purposes of Subdivision 40‑E of the Income Tax Assessment Act 1997, you cannot allocate a depreciating asset to a low‑value pool if:
 (a) you can deduct an amount for the asset under former section 73BA of the Income Tax Assessment Act 1936; or
 (b) you could so deduct an amount if you had not chosen a tax offset under former section 73I of that Act;
for a period before, or starting at the same time as, the allocation has effect.