EE 66Meaning of poolable property

1. Poolable property, for an income year, means an item of depreciable property that a person owns to which subsections (2) to (4) apply.

2. The item is not a building.

3. The item—

4. is acquired in the income year for a cost equal to or less than its maximum pooling value; or
5. was previously accounted for separately but has, as at the start of the income year, an adjusted tax value equal to or less than its maximum pooling value; or
6. was accounted for at the end of the 1992–93 income year using, with the Commissioner’s permission, the globo accounting method.

7. The item—

8. is wholly used or available for use by the person in deriving assessable income or carrying on a business for the purpose of deriving assessable income; or
9. to the extent to which it is not wholly used or available for use by the person in deriving assessable income or carrying on a business for the purpose of deriving assessable income, is used in a way that is subject to fringe benefit tax.