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).