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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances    View history reference

Subdivision 40-B - Core provisions    View history reference

SECTION 40-20  What this Subdivision is about  

 View history reference [42-10]

The rules that apply to most depreciating assets are in this Subdivision. It explains:

· what a depreciating asset is; and
· when you start deducting amounts for depreciating assets; and
· how to work out your deductions.

It also contains rules for splitting and merging depreciating assets.


 



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