s 40-289
In forceSurrendered firearms
Chapter 2Liability rules of general application
Part 2-10Capital allowances: rules about deductibility of capital expenditure
Division 40Capital allowances
Subdivision 40-DBalancing adjustments
40-289 Surrendered firearms
If a balancing adjustment event for a firearm that you hold occurs because you surrender it after the commencement of this section under firearms surrender arrangements, any amount by which its termination value exceeds its adjustable value is not included in your assessable income under subsection 40‑285(1) of the Income Tax Assessment Act 1997.
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