Tax and Superannuation Laws Amendment (2015 Measures No. 2) Act 2015 (130 of 2015)
Schedule 2 In-house software
Income Tax Assessment Act 1997
2 Section 40-455 (table)
Repeal the table, substitute:
|
Deductions allowed for software development pool |
||
|---|---|---|
|
Column 1 |
Column 2 |
|
|
Item |
Income year |
Amount of expenditure you can deduct for that year |
|
1 |
Year 1 |
Nil |
|
2 |
Year 2 |
30% |
|
3 |
Year 3 |
30% |
|
4 |
Year 4 |
30% |
|
5 |
Year 5 |
10% |