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Edited version of private advice
Authorisation Number: 1052331823851
Date of advice: 21 November 2024
Ruling
Subject: Deductibility of expenditure on realignment of assets
The Commissioner was asked the question (see below) and the Commissioner has ruled on it.
Question
Are the costs incurred by Entity A to undertake the realignment of assets deductible pursuant to section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997)?
Answer
Yes.