INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 328 - Small business entities  

Subdivision 328-D - Capital allowances for small business entities  

Operative provisions

SECTION 328-235   Interaction with Divisions 85 and 86  

328-235(1)  


Despite sections 85-10 and 86-60 , if you are a *small business entity for an income year you can deduct amounts for * depreciating assets under this Subdivision.

328-235(2)  


However, you cannot deduct an amount for a * car under this Subdivision if, had you not been a *small business entity and chosen to use this Subdivision, sections 86-60 and 86-70 would have prevented you deducting an amount for it.

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