50BAcquisition of depreciating asset from the Commonwealth—Division 40 of the Income Tax Assessment Act 1997

#### 50B Acquisition of depreciating asset from the Commonwealth—Division 40 of the Income Tax Assessment Act 1997 (1) This section applies to a depreciating asset that: (a) was transferred from the Commonwealth to a company under section 23; and (b) at the time of transfer, was not attached to land. (2) The Finance Minister may make a written determination of the cost of the asset for the purposes of Division 40 of the Income Tax Assessment Act 1997. > Note: If a determination is made, the cost of the plant will be determined under item 10 of the table in subsection 40‑180(2) of the Income Tax Assessment Act 1997. (3) The FAC must give the Finance Minister such information as the Finance Minister requires about the application of Subdivision 40‑D of the Income Tax Assessment Act 1997 to the asset and to the FAC.