Miscellaneous 1999

The Ralph Report: reforming the capital allowances system

Source: Taxation In Australia Journal Article

Published Date: 1 Nov 1999

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.

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Miscellaneous 1999

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