Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 40.420

What this Subdivision is about

You may choose to work out the decline in value of low-cost assets (assets costing less than $1,000) and certain other depreciating assets through a low-value pool.

You may also choose to deduct amounts for expenditure you incur on in-house software through a software development pool.

Table of sections

Operative provisions

40-425      Allocating assets to a low-value pool

40-430      Rules for assets in low-value pools

40-435      Private or exempt use of assets

40-440      How you work out the decline in value of assets in low-value pools

40-445      Balancing adjustment events

40-450      Software development pools

40-455      How to work out your deduction

40-460      Your assessable income includes consideration for pooled software

Operative provisions



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