Section EZ 11 — Income Tax Act 2007: Amounts of depreciation recovery income and depreciation loss for part business use up to 2004–05 income year

EZ 11 Amounts of depreciation recovery income and depreciation loss for part business use up to 2004–05 income year For the purposes of sections EE 49(1)(b)(ii) and EE 50(5)(b)(ii) (which relate to depreciation for partial income-producing use), the item is an item of property to which 1 or more of the following applies: (a) the item is, at any time during the period the person owns it, subject to section FB 7 of the Income Tax Act 2004: (b) the item is, at any time during the period the person owns it, subject to section EG 2(1)(d) or (e) of the Income Tax Act 1994: (c) the item is, at any time during the period the person owns it, subject to section 108A(1)(d) or (e) of the Income Tax Act 1976: (d) the item was, in the 1992–93 income year or an earlier income year, an item that the person did not use wholly in deriving assessable income or carrying on a business for the purpose of deriving assessable income and for which, consequently, the person was allowed a smaller deduction for depreciation under section 108 of the Income Tax Act 1976 than they would have been allowed if they had used the item wholly for 1 of those purposes. Defined in this Act: assessable income , business , income year , Compare: 2004 No 35 s EZ 10