A New Tax System (Tax Administration) Act (No. 2) 2000 (91 of 2000)
Schedule 4A Income tax deductions for GST-related expenditure
Income Tax Assessment Act 1997
13 At the end of subsection 42-168(1)
Add:
; and (e) before 1 July 2001, you become the owner or *quasi-owner of the *plant and use it, or have it *installed ready for use, for the *purpose of producing assessable income.
If you have already deducted the cost but you fail to comply with paragraph (e), your assessment may be amended to disallow the deduction.
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