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Edited version of private advice
Authorisation Number: 1051955410073
Date of advice: 3 March 2022
Ruling
Subject: Application of the exclusion in subsection 40-165(2) of the Income Tax (Transitional Provisions) Act 1997 (ITTP Act) to refurbishment works undertaken in stages
Question
Will the exclusion in subsection 40-165(2) of the ITTP Act apply to preclude ABC Co from applying the temporary full expensing measures under Subdivision 40-BB of the ITTP Act to eligible depreciable assets that form part of the refurbishment works under Separable Portion (SP) X, SP Y and SP Z of the Refurbishment Contract dated pre 6 October 2020?
Answer
No.