Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1987:p30
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1987 (pt 30/51)
Character Range: 86004–88727

of 2 or more successive transfers to which either one of section
58 or 73E has applied (whether alternately or otherwise) - the cost of the
property to the earliest prior successive transferor for the purposes of
section 73B (worked out as if subsection 73B(6) had not been enacted);
had been the cost of the property to the taxpayer.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 42

  42. After section 73D of the Principal Act the following sections are
inserted:
Section 73B roll-over relief on disposal of unit of plant where CGT roll-over
relief allowed under section 160ZZO
(Roll-over relief where CGT roll-over relief allowed)
  "73E.(1) This section applies to the disposal of a unit of plant by an
eligible company (in this section called the 'transferor') to another eligible
company (in this section called the 'transferee') if:
  (a) section 160ZZO applies to the disposal of the unit by the transferor;
and
  (b) subject to subsection (11), a deduction or deductions have been allowed
or are allowable under subsection 73B(15) to the transferor in respect of the
unit; and
  (c) no deduction has been allowed or is allowable under section 54 to the
transferor in respect of the unit.
(No balancing charges)
  "(2) Subsection 73B(23) or (24), as the case requires, does not apply in
respect of the disposal of the unit by the transferor.
(No depreciation deduction for transferor in year of disposal)
  "(3) A deduction under section 54 is not allowable to the transferor in
respect of the unit in relation to the year of income in which the disposal
took place.
(Subsection 73B(4) definition of "qualifying plant expenditure" not applicable
to transferee)
  "(4) Subsection 73B(4) does not apply to the transferee in relation to the
unit.
(Transferee to inherit transferor's qualifying plant expenditure)
  "(5) If:
  (a) immediately after the disposal took place, the transferee commences to
use the unit exclusively for the purpose of the carrying on by or on behalf of
the transferee of research and development activities; and
  (b) apart from the disposal, there would have been an amount of qualifying
plant expenditure in relation to the transferor in relation to:
    (i) the year of income of the transferor in which the disposal
took place; or
    (ii) the first subsequent year of income of the transferor;
then:
  (c) subject to subsection 73B(5), section 73B and this section have effect
as if an amount equal to that amount were taken:
    (i) to have been incurred by the transferee in the acquisition of
the unit; and
    (ii) to be an amount of qualifying plant expenditure in relation
to the transferee in relation to:
      (A) if subparagraph (b)(i) applies - the year