Div 328 (heading) substituted by No 80 of 2007 , s 3 and Sch 3 item 1, applicable in relation to the 2007-08 income year and later income years. The heading formerly read:

Division 328 - STS taxpayers

Div 328 inserted by No 78 of 2001.

Subdiv 328-D (heading) substituted by No 80 of 2007 , s 3 and Sch 3 item 3, applicable in relation to the 2007-08 income year and later income years. The heading formerly read:

Subdivision 328-D - Capital allowances for STS taxpayers

Subdiv 328-D inserted by No 78 of 2001.

S 328-170 amended by No 96 of 2014, s 3 and Sch 3 item 1, by substituting " $1,000 " for " $6,500 " , effective 30 September 2014. For application provision see note under s 328-180(1) .

S 328-170 amended by No 23 of 2012, s 3 and Sch 2 item 67, by substituting " $6,500 " for " $5,000 " , applicable in relation to the 2012-13 income year and later income years.

S 328-170 amended by No 23 of 2012, s 3 and Sch 2 items 2 - 4, by substituting " Broadly, the " for " Broadly, a " and " a deduction for assets whose cost is less than $5,000 in the income year in which you start to use the asset or have it installed ready for use " for " an immediate deduction for low-cost assets " , and omitting " for most depreciating assets, and 5% for depreciating assets that have an effective life of 25 years or more " after " The pool rate is 30% " , applicable in relation to the 2012-13 income year and later income years.

S 328-170 amended by No 80 of 2007 , s 3 and Sch 3 items 4 and 5, by substituting " If you are small business entity, you can choose to deduct amounts for most of your depreciating assets " for " STS taxpayers deduct amounts for most of their depreciating assets " and substituting para (b), applicable in relation to the 2007-08 income year and later income years. Para (b) formerly read:

(b) ceasing to be an STS taxpayer; and

S 328-170 inserted by No 78 of 2001.