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Edited version of private advice
Authorisation Number: 1052184512909
Date of advice: 1 November 2023
Ruling
Subject: Temporary full expensing
The Commissioner was asked the following question about temporary full expensing and the Commissioner has ruled on the question.
Question
Is Entity X entitled to apply the temporary full expensing (TFE) measures under subsection 40-160(3) of the Income Tax (Transitional Provisions) Act 1997 (IT(TP)A 1997) and deduct in full the tax cost amount in respect of depreciating assets for the year ended 30 June 2021?
Answer
Yes.