Treasury Laws Amendment (Housing Tax Integrity) Act 2017 (126 of 2017)

Schedule 2   Limiting depreciation deductions for assets in residential premises

Income Tax Assessment Act 1997

11   After subsection 328-175(9)

Insert:

Exception: second-hand assets used in residential property

(9A) You cannot deduct amounts for a *depreciating asset under this Subdivision to the extent that section 40-27 prevents you from deducting amounts under subsection 40-25(1) for the asset.