Tax and Superannuation Laws Amendment (2015 Measures No. 2) Act 2015 (130 of 2015)

Schedule 2   In-house software

Income Tax Assessment Act 1997

2   Section 40-455 (table)

Repeal the table, substitute:

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%