Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2012 (23 of 2012)

Schedule 2   Increase to the small business instant asset write-off threshold

Part 1   Amendments contingent on the Minerals Resource Rent Tax

Income Tax Assessment Act 1997

29   Subsection 328-190(4)

Repeal the subsection (not including the note), substitute:

(4) The amount you can deduct is 15% of the *taxable purpose proportion of the cost addition amount.