Section 87: Short-life assets provided for leasing
394.This section is based on section 37(6) of CAA 1990. It deals with leased assets that are used other than for a qualifying purpose.
395.Section 84 permits assets provided for leasing to be short-life assets if they:
are cars hired to disabled persons; or
will be used only for qualifying purposes in the designated period.
396.If the plant or machinery starts to be used for what is not a qualifying purpose, the short-life asset pool ends. The expenditure left in the single asset pool goes to the main pool.