Income Tax Assessment Act 1997
CHAPTER 2
-
LIABILITY RULES OF GENERAL APPLICATION
PART 2-10
-
CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
Division 41
-
Additional deduction for certain new business investment
Guide to Division 41
SECTION 41-1
What this Division is about
(a) you can deduct an amount for the decline in value for the asset for the relevant year under Subdivision
40-B
; and
(b) you make certain new investments in respect of the asset in the period starting on 13 December 2008 and ending on 31 December 2009; and
(c) the total of those new investments is at least
$
1000 (for small businesses) or
$
10,000 (for other businesses).
View history note
Hide history noteYou may be able to deduct an amount in relation to a depreciating asset for the 2008-09, 2009-10, 2010-11 or 2011-12 income year if:
| TABLE OF SECTIONS | |
| Operative provisions | |
| 41-5 | Object of Division |
| 41-10 | Entitlement to deduction for investment |
| 41-15 | Amount of deduction |
| 41-20 | Recognised new investment amount |
| 41-25 | Investment commitment time |
| 41-30 | First use time |
| 41-35 | New investment threshold |
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