EE 43Transfer of depreciable intangible property on or after 1 July 1997

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—

2. 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
3. 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.

4. Person A does not have an amount of depreciation loss for the item.

Compare

• 2004 No 35 s EE 36