s 40-155
In forceBusinesses with turnover under $5 billion
Chapter 2Liability rules of general application
Part 2-10Capital allowances: rules about deductibility of capital expenditure
Division 40Capital allowances
Subdivision 40-BBTemporary full expensing of depreciating assets
40-155 Businesses with turnover under $5 billion
This section covers you for an income year if:
(a)
you are a small business entity for the income year; or
(b)
you would be a small business entity for the income year if:
(i)
each reference in Subdivision 328‑C of the Income Tax Assessment Act 1997 (about what is a small business entity) to $10 million were instead a reference to $5 billion; and
(ii)
the reference in paragraph 328‑110(5)(b) of that Act to a small business entity were instead a reference to an entity covered by this section.
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