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-I - Capital expenditure that is deductible over time  

Operative provisions

SECTION 40-835   40-835   Reduction of deduction  


You must reduce your deduction under section 40-830 or 40-832 for an income year by a reasonable amount for the extent (if any) to which the project operates in the year for purposes other than * taxable purposes.
Note:

If Division 250 applies to you and an asset:

  • (a) if section 250-150 applies - you are taken not to be using the asset for taxable purposes to the extent specified under subsection 250-150(3) ; or
  • (b) otherwise - you are taken not to be using the asset for such purposes.

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