Commonwealth Numbered Acts

AIRPORTS (TRANSITIONAL) ACT 1996 No. 36 of 1996 - SECT 51

(1) This section applies to a unit of property that was transferred from the
FAC to a company under section 30.

(2) The Minister for Finance may make a written determination that the
provisions of the Income Tax Assessment Act 1936 relating to depreciation have
effect as if the depreciated value of the asset at the time of the transfer
were equal to the amount specified in the determination.

(3) The determination has effect accordingly.

(4) The FAC must give the Minister for Finance such information as the
Minister for Finance requires about the application of section 59 of the
Income Tax Assessment Act 1936 to the property and to the FAC.