Division 57 – Applies a 'rule the books' methodology to an enterprise moving from exempt to taxable status such that income / expenditure attributable to the period of Government ownership is non-assessable / non deductible.
Division 58 – Contains cost setting rules that limit the depreciation a purchaser obtains on a privatised asset to either a Pre Audited Book Value or a Notional Written Down value. The rules can prevent a purchaser stepping up the tax cost of an asset to market value.
Division 243 – Limited Recourse Debt. Applies where an asset is financed by limited recourse debt and the debt is not repaid. Essentially claws back any accelerated depreciation deductions.
F2 elections – long term leases. This election allows a purchaser to claim Div 43 on buildings and structural improvements previously constructed on certain leased land.
Division 250 – Applies to deny depreciation on assets that are put to a tax preferred use (which broadly means assets that are used or controlled by the Government).
Section 51AD – just for the romantics these days but worth remembering. The section applied to Government leased assets where they were financed on a non recourse basis. The section denied depreciation and interest thus making it a particularly nasty provision.