Treasury Laws Amendment (Housing Tax Integrity) Act 2017 (126 of 2017)
Schedule 2 Limiting depreciation deductions for assets in residential premises
Income Tax Assessment Act 1997
8 Paragraph 104-235(1)(b)
Repeal the paragraph, substitute:
(b) at some time when you held the asset, you used it, or had it *installed ready for use, for:
(i) a purpose other than a *taxable purpose; or
(ii) the purpose to which paragraphs 40-27(2)(a) and (b) relate (about second-hand assets in residential property).
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