Taxation Ruling

IT 2264W - Notice of Withdrawal

Income tax: expenditure on minor items of plant and equipment

• Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

may be released

NOTICE OF WITHDRAWAL

Taxation Ruling IT 2264 is no longer current and should be withdrawn. It ceases to have effect from today.

With the introduction of prescriptive legislation in Subdivision 42-M to deal with plant whose cost is less than $1000 and the special treatment that applies when a balancing adjustment event happens to that plant, the treatment previously extended to the mining and other large industry to allow an immediate write-off for plant items costing $500 or less is no longer appropriate.

Commissioner of Taxation
16 August 2000

References

ATO references:
NO NAT T2000/4313

Related Rulings/Determinations:

IT 2264