Skip to main content

Your shopping cart is empty

Q and A: Uniform Capital Allowances


The New Business Tax System (Capital Allowances) Act 2001 No. 76 of 2001 and New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 No. 77 of 2001 received Royal Assent on 30 June 2001 and became effective from 1 July 2001. This article answers a number of common questions asked by practitioners regarding the new general depreciation rules (formerly Div 42 of the Income Tax Assessment Act 1997 (1997 Act), the new low value pool and black hole expense initiatives. References are to the provisions of the 1997 Act following the amendments, unless otherwise stated or the context requires.

Author profile:

Author Photo - Ronald Jorgensen CTA
Ronald Jorgensen CTA
Ron Jorgensen, CTA, is a Partner at Rigby Cooke Lawyers. Ron principally consults on Commonwealth and state tax laws, tax dispute resolution and compliance enforcements, and specialises in trusts and trust disputes, succession and asset protection, business and investment structuring and tax-sensitive commercial and property transactions. Ron is an Accredited Specialist in Tax Law, a member of the Law Institute of Victoria and a respected technical writer and presenter. Ron is a fierce advocate for taxpayers. Current at 04 August 2016 Click here to expand/collapse more articles by Ron JORGENSEN.
Copyright Statement