s 40-832
In forceNew method not to apply in some cases
Chapter 2Liability rules of general application
Part 2-10Capital allowances: rules about deductibility of capital expenditure
Division 40Capital allowances
Subdivision 40-ICapital expenditure that is deductible over time
40-832 New method not to apply in some cases
If:
(a)
on or after 10 May 2006 you abandon, sell or otherwise dispose of a project; and
(b)
you have deducted or can deduct amounts for project amounts in relation to that project; and
(c)
on or after that day, you start to operate that project again; and
(d)
it is reasonable to conclude that you did this for the main purpose of ensuring that deductions for project amounts in relation to that project would be worked out under section 40‑832 of that Act;
the Income Tax Assessment Act 1997 applies to you as if the project had started to operate before 10 May 2006.
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.