New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1997
199 Subsection 20-30(1) (table)
Repeal the table, substitute:
|
Provisions of the Income Tax Assessment Act 1997 |
||
|---|---|---|
|
Item |
Provision |
Description of expense |
|
1.1 |
8-1 (so far as it allows you to deduct a bad debt, or part of a debt that is bad) |
bad debts |
|
1.2 |
8-1 (so far as it allows you to deduct rates or taxes) |
rates or taxes |
|
1.3 |
25-5 |
tax-related expenses |
|
1.4 |
25-35 |
bad debts |
|
1.5 |
25-45 |
embezzlement or larceny by an employee |
|
1.6 |
25-60 |
election expenses, Commonwealth and State elections |
|
1.7 |
25-75 |
rates and land taxes on premises used to produce mutual receipts |
|
1.8 |
25-80 |
upgrading assets to meet GST obligations etc. |
|
1.9 |
Division 40 |
capital allowances |
|
1.10 |
The former Division 42 (as it applied to *software because of the former Subdivision 46-B) |
expenditure on software |
|
1.11 |
The former Subdivision 46-C |
expenditure on software |
|
1.12 |
The former Subdivision 46-D |
expenditure on software, pooled |
|
1.13 |
The former Division 42 (as it applied to *IRUs because of Division 44) |
expenditure on IRUs |
|
1.14 |
The former 330-15 |
exploration or prospecting expenditure |
|
1.15 |
The former 330-80 |
allowable capital expenditure relating to mining or quarrying |
|
1.16 |
The former 330-350 |
petroleum resource rent tax |
|
1.17 |
The former 330-370 |
transport capital expenditure relating to mining or quarrying |
|
1.18 |
The former 330-435 |
rehabilitation expenditure relating to mining or quarrying |
|
1.19 |
The former 330-485 |
balancing adjustment deduction for expenditure relating to mining or quarrying |
|
1.20 |
The former Subdivisions 380-A and 380-C |
capital expenditure incurred in obtaining a spectrum licence |
|
1.21 |
The former Subdivision 387-A |
landcare operations expenditure |
|
1.22 |
The former Subdivision 387-B |
expenditure on facilities to conserve or convey water |
|
1.23 |
The former Subdivision 387-D |
grapevine establishment expenditure |
|
1.24 |
The former Subdivision 387-C |
horticultural plant establishment expenditure |
|
1.25 |
The former Subdivision 387-E |
mains electricity connection expenditure |
|
1.26 |
The former Subdivision 400-A |
expenditure on environmental impact assessment |
|
1.27 |
The former Subdivision 400-B |
expenditure on environmental protection activities |