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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-I - Capital expenditure that is deductible over time    View history reference

Operative provisions

SECTION 40-835  

40-835  Reduction of deduction  

 View history reference [No equivalent]
You must reduce your deduction under section 40-830 or 40-832 for an income year by a reasonable amount for the extent (if any) to which the project operates in the year for purposes other than *taxable purposes.

Note:

If Division 250 applies to you and an asset:

(a) if section 250-150 applies - you are taken not to be using the asset for taxable purposes to the extent specified under subsection 250-150(3); or
(b) otherwise - you are taken not to be using the asset for such purposes.


 



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