Treasury Laws Amendment (2020 Measures No. 3) Act 2020 (61 of 2020)

Schedule 4   Extending the instant asset write-off

Income Tax Assessment Act 1997

14   At the end of paragraph 328-180(2)(b)

Add:

Note: Paragraph (b) may not apply for costs included after 31 December 2020 for assets you first acquire between 12 May 2015 and 31 December 2020: see subsection 328-180(5A) of the Income Tax (Transitional Provisions) Act 1997.