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The Ralph Report: reforming the capital allowances system

Published on 01 Nov 99 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The key features of the New Business Tax System in relation to capital allowances are : replacement of accelerated depreciation, removal of balancing charge offset, removal of plant and equipment assets from the Capital Gains Tax System, introducing a low value pool for assets costing less than $1000, and implementing a new tax law for depreciable assets. The Review of Business Taxation raises the issue of tax avoidance through lease assignments. The law is to be amended in relation to lease assignments undertaken on or after 22 February 1999.

Author profile:

Prof Glenton Barton CTA-Life
Glen is a Professor in the Department of Accounting and Finance in the Business School of the University of Western Australia. He is a Barrister and Solicitor of the Supreme Court of Western Australia and former member in the General and Taxation Division of the Administrative Appeals Tribunal, Perth Registry and Life Member of the Taxation Institute of Australia. Current at 01 October 2009 Click here to expand/collapse more articles by Glen BARTON.
 
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