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  

Operative provisions  

SECTION 41-35  

41-35   New investment threshold  

The new investment threshold for an income year (the relevant income year ) in relation to an asset means:

(a) $1000 if you are a *small business entity during any of the following income years:

(i) the income year in which occurs the *investment commitment time for any *recognised new investment amount for the asset in relation to the relevant income year;

(ii) the income year in which occurs the *first use time for any such amount;

(iii) the relevant income year; or

(b) otherwise - $10,000.