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Q and A: Uniform Capital Allowances

Published on 01 Aug 01 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

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.

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Ron JORGENSEN
Current at 15 June 2011 Click here to expand/collapse more articles by Ron JORGENSEN.
 

 

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