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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 41 - Additional deduction for certain new business investment    View history reference

Operative provisions  

SECTION 41-30  

41-30  First use time  

 View history reference
The first use time for the amount is:


(a) if the amount is included in the first element of the asset's *cost - the time at which you start to use the asset, or have it *installed ready for use; or


(b) if the amount is included in the second element of the asset's cost - the later of:


(i) the time at which it becomes included in that element under paragraph 40-190(2)(a) ; or

(ii) the time mentioned in paragraph (a).


 



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