Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2012 (23 of 2012)

Schedule 2   Increase to the small business instant asset write-off threshold

Part 1   Amendments contingent on the Minerals Resource Rent Tax

Income Tax Assessment Act 1997

50   Paragraph 328-225(5)(a)

Repeal the paragraph, substitute:

(a) you do not need to make an estimate or an adjustment under this section for a *depreciating asset for an income year that is at least 3 income years after the income year in which the asset was allocated; and

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).