BA 3301 Lecture Notes - Lecture 41: Namor, National Association Of Head Teachers, Coles Group
Document Summary
E. g. a non- cash business benefit received is an item of depreciating property. Installed ready for use" installed ready for use and held in reserve (s 995-1)/ Held in reserve" held for future use in an existing income producing operation. Does not include income-producing operations which may be undertaken in the future (tr. A balancing adjustment event occurs for a depreciating asset if: Reduced by any non-deductible expenses reasonably attributable to the balancing adjustment event (s 40-315) Apportionment where receipt only partly relates to depreciating asset (s 40-310) (cid:120) special situation table in s 40-300(2). If more than one item applies, use last applicable item. Non-arm"s length transaction market value substitution. Balancing inclusion (cid:120) s 40-285(1) asset"s termination value > adjustable value (cid:120) amount captures excessive deduction because capital allowance deduction > actual. Interaction of s 40-290 and cgt event k7:
