shopping_cart

Your shopping cart is empty

Changes affecting assets

Member Price: $57.00
Non Member Price: $75.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 22 Mar 00 by VICTORIAN DIVISION, THE TAX INSTITUTE

A number of amendments were introduced into legislation with the passing of New Business Tax System (Capital Allowances) Bill 1999, which was given Royal Assent on 10 December 1999.The amendments include:Removal of plant and equipment from the CGT regime. Balancing adjustments to be fully included in assessable income. Removal of the option to offset the balancing charges on disposals of plant. Replacement of the current CGT roll-over relief in relation to involuntary disposals.Removal of accelerated depreciation. Replacement of $300 limit with a low value pool for assets costing less than $1,000. Amends the rules in determining the effective life of an item of plant.This paper summarises these amendments in light of the Ralph Review.

Author profile

Steven CERNI
Click here to expand/collapse more articles by Steven CERNI.

 

This was presented at RBT: the big breakfast .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Changes affecting assets

Author(s):  Steven CERNI

Materials from this session:

Anti avoidance provisions

Author(s):  John YOUNG

Materials from this session:

Integrity measures

Author(s):  Patrick CUSSEN

Materials from this session:

Dividend distributions: the effect on distribution

Author(s):  John JEFFREYS

Materials from this session:

Small business taxation changes

Author(s):  Denise BROTHERTON

Materials from this session:

Further details about this event:

 

Copyright Statement