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-B - Core provisions  

SECTION 40-20   What this Subdivision is about  


The rules that apply to most depreciating assets are in this Subdivision. It explains:

  • · what a depreciating asset is; and
  • · when you start deducting amounts for depreciating assets; and
  • · how to work out your deductions.
  • It also contains rules for splitting and merging depreciating assets.


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