Treasury Laws Amendment (2020 Measures No. 6) Act 2020 (141 of 2020)
Schedule 1 Temporary full expensing of depreciating assets and other amendments
Part 1 Main amendments
Income Tax (Transitional Provisions) Act 1997
12 After subsection 40-170(1)
Insert:
Exclusions
(1A) However, this section does not apply if:
(a) section 40-157 covers you for the current year (but section 40-155 does not); and
(b) an exclusion applies to you and the asset for the current year under section 40-167 (about exclusions for corporate tax entities with income under $5 billion).