Taxation Ruling
IT 2278W - Notice of Withdrawal
Income tax: investment allowance: partner using privately owned property in partnership business
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Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:
may be releasedNotice of Withdrawal
Taxation Ruling IT 2278 is withdrawn with effect from today.
1. Taxation Ruling IT 2278 explains whether the private property of a partner used in a partnership is eligible for an investment allowance (known as development allowance from 30 June 1992) deduction under the former sections 82AA to 82AQ of the Income Tax Assessment Act 1936 (ITAA 1936).
2. The former paragraph 82AB(1)(d) of the ITAA 1936 limits the availability of the development allowance to eligible property first used or installed ready for use before 1 July 2002.
3. The Ruling does not have application where the eligible property was first used or installed ready for use on or after 1 July 2002.
Commissioner of Taxation
23 April 2008
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