Section EE 43 — Income Tax Act 2007: Transfer of depreciable intangible property on or after 1 July 1997

EE 43 Transfer of depreciable intangible property on or after 1 July 1997 When this section applies (1) This section applies when, on or after 1 July 1997, a person ( person A ) acquires, directly or indirectly, from an associated person an item of depreciable intangible property that— (a) was not depreciable property of the associated person because it was not of a kind listed in schedule 14 (Depreciable intangible property) at the time the associated person acquired it; and (b) was not an item for whose cost the associated person was allowed a deduction, other than a deduction for an amount of depreciation loss, under a provision of this Act outside this subpart. No amount of depreciation loss (2) Person A does not have an amount of depreciation loss for the item. Defined in this Act: acquire , amount , associated person , deduction , depreciable intangible property , depreciable property , depreciation loss , Compare: 2004 No 35 s EE 36