Income Tax (Transitional Provisions) Act 1997

Table of sections

40‑140 Definitions

40‑145 Interaction with other provisions

40‑150 When an asset of yours qualifies for full expensing

40‑155 Businesses with turnover under $5 billion

40‑157 Corporate tax entities with income under $5 billion

40‑160 Full expensing of first and second element of cost for post‑2020 budget assets

40‑165 Exclusions—entities covered by section 40‑155 or 40‑157

40‑167 Exclusions—entities covered by section 40‑157

40‑170 Full expensing of eligible second element of cost

40‑175 When is an amount included in the eligible second element

40‑180 Division 40 of the Income Tax Assessment Act 1997 applies to later years

40‑185 Balancing adjustment for assets not used or located in Australia

40‑190 Choice to not apply this Subdivision to an asset for an income year