Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2012 (23 of 2012)

Schedule 3   Small business entities' deductions for motor vehicles

Income Tax Assessment Act 1997

7   Application of amendments

The amendments made by this Schedule apply in relation to entities and depreciating assets the entities started to hold (as defined in section 40-40 of the Income Tax Assessment Act 1997) in the 2012-13 income year and later income years.