Taxation Determination

TD 95/52W

Income tax: is depreciation allowable under subsection 54(1) of the Income Tax Assessment Act 1936 if income producing operations in a business have not yet commenced?

FOI status:

may be released

Notice of Withdrawal

Taxation Determination TD 95/52 is withdrawn with effect from today.

1. Taxation Determination TD 95/52, which issued on 20 September 1995, considers whether depreciation is allowable under subsection 54(1) of the Income Tax Assessment Act 1936 (ITAA 1936) for plant acquired for use in a business that has not yet commenced to be carried on.

2. The depreciation provisions in section 54 of the ITAA 1936 were rewritten in 1997 as part of the Tax Law Improvement Project and replaced by Division 42 of the Income tax Assessment Act 1997 (ITAA 1997). From 1 July 2001, Division 42 was replaced by Division 40 of the ITAA 1997.

3. As Taxation Determination TD 95/52 is no longer current, it is accordingly withdrawn and has been replaced by Taxation Determination TD 2007/5.

Commissioner of Taxation
21 March 2007

Previously issued as Draft TD 93/D93


ATO references:
NO 2006/20258

ISSN 1038 - 8982
TD 95/52W history
  Date: Version: Change:
  20 September 1995 Original ruling  
You are here 21 March 2007 Withdrawn  

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