New Business Tax System (Capital Allowances) Act 2001 (76 of 2001)

Schedule 1   Capital Allowances

Income Tax Assessment Act 1997

2   Application

The amendments made by this Schedule apply to:

(a) depreciating assets:

(i) you start to hold under a contract entered into after 30 June 2001; or

(ii) you constructed where the construction started after that day; or

(iii) you start to hold in some other way after that day; and

(b) expenditure that does not form part of the cost of a depreciating asset incurred after that day.