Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 41.35

    The new investment threshold for an income year (the relevant income year ) in relation to an asset means:

  (a)   $1000 if you are a * small business entity during any of the following income years:

  (i)   the income year in which occurs the * investment commitment time for any * recognised new investment amount for the asset in relation to the relevant income year;

  (ii)   the income year in which occurs the * first use time for any such amount;

  (iii)   the relevant income year; or

  (b)   otherwise--$10,000.

Table of Subdivisions

  Guide to Division   43

43 - A   Key operative provisions

43 - B   Establishing the deduction base

43 - C   Your area and your construction expenditure

43 - D   Deductible uses of capital works

43 - E   Special rules about uses

43 - F   Calculation of deduction

43 - G   Undeducted construction expenditure

43 - H   Balancing deduction on destruction of capital works