New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)
Schedule 2 General consequential amendments
Income Tax Assessment Act 1936
22 After subparagraph 23AH(6)(b)(i)
Insert:
(ia) a depreciating asset for which the taxpayer can, or could, apart from this section, deduct amounts for its decline in value under Division 40 of the Income Tax Assessment Act 1997 for any year of income; or
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