Coronavirus Economic Response Package Omnibus Act 2020 (22 of 2020)

Schedule 2   Backing business investment

Income Tax Assessment Act 1997

3   At the end of subsection 40-65(1) (after the notes)

Add:

Note 4: An accelerated decline in value applies to certain assets you start to hold between 12 March 2020 and 30 June 2021: see Subdivision 40-BA of the Income Tax (Transitional Provisions) Act 1997.