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TAXATION LAWS AMENDMENT (SOFTWARE DEPRECIATION) ACT 1999


TABLE OF PROVISIONS

   1.      Short title  
   2.      Commencement  
   3.      Schedule(s)  
   4.      Amendment of assessments  
            
           Division 46—Software Table of Subdivisions 46-A Definitions and scope of Division 46-B Depreciation of software 46-C Deductions for certain expenditure on software 46-D Software pools Guide to Division 46 46-1 What this Division is about This Division allows a deduction, over 21/2 years, for capital and non-capital expenditure you incur in acquiring or developing software for your own use. You may choose to pool such expenditure. This can help you to work out your deductions if it would be hard to attribute your costs to individual projects separately. The Division also allows an immediate deduction for expenditure on software, incurred before 1 January 2000, to ensure that a computer system attains Year 2000 compliance. Immediate deductions are also allowed for minor expenditure and for expenditure on software that you decide never to use. [This is the end of the Guide.] Subdivision 46-A—Definitions and scope of Division Table of sections 46-5 Meaning of software 46-10 Meaning of expenditure on software 46-15 Exclusions from scope of Division 46-20 Relationship with general deductions 46-5 Meaning of software Software includes a right to use software.
            


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