s 40-430
In forceAllocating assets to low‑value pools
Chapter 2Liability rules of general application
Part 2-10Capital allowances: rules about deductibility of capital expenditure
Division 40Capital allowances
Subdivision 40-ELow‑value and software development pools
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.
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