(a) at a particular time (in this section referred to as the relevant time ) an item of eligible property is both eligible depreciation property and eligible capital expenditure property; and
(b) the expenditure by reason of which the item of property is eligible capital expenditure property is the amount that:
(i) was the cost of the item of property to the taxpayer who incurred the expenditure for the purpose of the former Subdivision 42-B, or Subdivision 40-C, of the Income Tax Assessment Act 1997 ; or
(ii) would have been the cost to the taxpayer for the purpose of that Subdivision if it applied in relation to the item of property;
for the purpose of ascertaining the residual amount at the relevant time in relation to the amount of expenditure:
(c) if a capital expenditure deduction would, apart from this Division, be allowable to a taxpayer in respect of the amount of eligible capital expenditure in relation to the year of income in which the relevant time occurs--the item of eligible property shall be taken to be at the relevant time an item of eligible capital expenditure property and not an item of eligible depreciation property; and
(d) in any other case--the item of eligible property shall be taken to be at the relevant time an item of eligible depreciation property and not an item of eligible capital expenditure property.