Section 159GM — Income Tax Assessment Act 1936: Special provision where cost of plant etc. is also eligible capital expenditure

Where: (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.