Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 250.290

  (1)   This section applies if:

  (a)   this Division applies to you and an asset; and

  (b)   the * arrangement period for the * tax preferred use of the asset ends because a particular event happens; and

  (c)   the event would have been a * balancing adjustment event for the asset for the purposes of Subdivision   40 - D if this Division had not applied to you and the asset when the event happened.

  (2)   A balancing adjustment is made under Subdivision   40 - D as if:

  (a)   the event were a * balancing adjustment event for the asset; and

  (b)   the * adjustable value of the asset, just before the event happened, were the adjustable value worked out under subsection   250 - 285(1); and

  (c)   sections   40 - 290, 40 - 291, 40 - 292 and 40 - 293 did not apply.

Table of sections

250 - 295   Objections against determinations and decisions by the Commissioner