Taxation Ruling

IT 26W - Notice of Withdrawal

Computers - depreciation, investment allowance

  • Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

may be released

Notice of Withdrawal

Taxation Ruling IT 26 is withdrawn with effect from 10:00 am (Eastern Standard Time) today.

The taxation treatment of expenditure on computer software has necessarily been reviewed in the context of requests for a ruling on expenditure on year 2000 (Millennium bug) issues.

As a consequence, the Commissioner has concluded that IT 26 no longer reflects the correct view of the operation of the existing law in relation to software.

The Commissioner will be releasing a Draft Taxation Ruling on deductibility of year 2000 (Millennium bug) expenses in conjunction with the Budget.

The Government will respond to the Commissioner's withdrawal notice and the Draft Taxation Ruling jointly.

Commissioner of Taxation
11 May 1998


ATO references:
NO NAT 98/561-9

ISSN 0813-3662

Related Rulings/Determinations:

IT 26