Taxation Ruling

IT 78A - Addendum

Investment Allowance: petroleum products pipeline

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FOI status:

may be released

The Tax Law Improvement Project is restructuring, renumbering and rewriting the income tax law in plain language. The Parliament is amending the income tax law progressively to reflect these aims. As new laws come into effect, Taxation Rulings about old laws are being brought into line with them.

Addendum

This Addendum amends Taxation Ruling IT 78, in relation to the 1997-98 or a later income year, as follows:

1. Title

Omit 'Investment Allowance'; substitute 'Depreciation'.

2. Preamble

Omit 'and also qualify as "eligible expenditure" for investment allowance purposes'.

3. Paragraph 2

Omit 'and qualify as eligible expenditure for purposes of calculating the investment allowance'.

Commissioner of Taxation
20 August 1997

References

ATO references:
NO NAT 97/6784-3

Related Rulings/Determinations:

IT 78