Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 250 - Assets put to tax preferred use  

Subdivision 250-B - When this Division applies to you and an asset  

Overall test

SECTION 250-20  

250-20   First exclusion - small business entities  


This Division does not apply to you and an asset if:


(a) you are a *small business entity for the income year in which the *arrangement period for the *tax preferred use of the asset starts; and


(b) you choose to deduct amounts under Subdivision 328-D for the asset for that income year.


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