INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 41 - Additional deduction for certain new business investment  

Operative provisions  

SECTION 41-30   41-30   First use time  


The first use time for the amount is:


(a) if the amount is included in the first element of the asset's *cost - the time at which you start to use the asset, or have it *installed ready for use; or


(b) if the amount is included in the second element of the asset's cost - the later of:


(i) the time at which it becomes included in that element under paragraph 40-190(2)(a) ; or

(ii) the time mentioned in paragraph (a).

View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.