Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 328.235

Interaction with Divisions 85 and 86

  (1)   Despite sections   85 - 10 and 86 - 60, if you are a * small business entity for an income year you can deduct amounts for * depreciating assets under this Subdivision.

  (2)   However, you cannot deduct an amount for a * car under this Subdivision if, had you not been a * small business entity and chosen to use this Subdivision, sections   86 - 60 and 86 - 70 would have prevented you deducting an amount for it.


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