s 40-137
In forceChoice to not apply this Subdivision to an asset
Chapter 2Liability rules of general application
Part 2-10Capital allowances: rules about deductibility of capital expenditure
Division 40Capital allowances
Subdivision 40-BABacking business investment
40-137 Choice to not apply this Subdivision to an asset
(1)
You may choose that the decline in value of a particular depreciating asset for an income year, and subsequent income years, is not to be worked out under this Subdivision.
(2)
The choice must be in the approved form.
(3)
The choice cannot be revoked.
(4)
You must give the choice to the Commissioner by the day you lodge your income tax return for the first income year to which the choice relates.
Note:
The Commissioner may defer the time for giving the choice: see section 388‑55 in Schedule 1 to the Taxation Administration Act 1953.
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