Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-B - Core provisions  

Operative provisions

SECTION 40-53   Alterations etc. to certain depreciating assets  

40-53(1)  
These things are not the same * depreciating asset for the purposes of section 40-50 and Subdivision 40-F :


(a) a depreciating asset; and


(b) a repair of a capital nature, or an alteration, addition or extension, to that asset that would, if it were a separate depreciating asset, be a * water facility, *fodder storage asset or *fencing asset.

40-53(2)  
These things are not the same * depreciating asset for the purposes of section 40-50 and Subdivision 40-G :


(a) a depreciating asset; and


(b) a repair of a capital nature, or an alteration, addition or extension, to that asset that would, if it were a separate depreciating asset, be a * landcare operation.


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