Treasury Laws Amendment (Housing Tax Integrity) Act 2017 (126 of 2017)

Schedule 2 Limiting depreciation deductions for assets in residential premises

Repeal the paragraph, substitute:

(b) at some time when you held the asset, you used it, or had it *installed ready for use, for:

(i) a purpose other than a *taxable purpose; or

(ii) the purpose to which paragraphs 40-27(2)(a) and (b) relate (about second-hand assets in residential property).