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-E - Low-value and software development pools  

Operative provisions

SECTION 40-455   40-455   How to work out your deduction  


For all the expenditure on *in-house software in a software development pool that was incurred in a particular income year ( Year 1 ), you get deductions in successive income years as follows:


Deductions allowed for software development pool
Column 1 Column 2
Item Income year Amount of expenditure you can deduct for that year
1 Year 1 Nil
2 Year 2 30%
3 Year 3 30%
4 Year 4 30%
5 Year 5 10%


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