Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p25
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 25/37)
Character Range: 454428–457180

328—the *opening pool balance of the pool for the adjustment year; or
 (c) for *in‑house software—the amount of expenditure allocated to the software development pool for the adjustment year; or
 (d) for a project pool—the *pool value for the adjustment year.
 (12) If the amount available for reduction under subsection (11) is more than the amount referred to in paragraph (11)(a), (b), (c) or (d) (whichever is applicable), the excess is included in the entity's assessable income unless the entity is an *exempt entity.

27‑105  Other Division 40 expenditure
 (1) This section applies to expenditure for which an entity can deduct amounts under Division 40 (but not under Subdivision 40‑B or 40‑E, or Subdivision 40‑I to the extent that that Subdivision relates to project pools).
 (2) The amount of the expenditure is reduced if the entity is or becomes entitled to an *input tax credit for a *creditable acquisition or *creditable importation to which the expenditure directly or indirectly relates. The reduction is the amount of the input tax credit that relates to that expenditure.
 (3) If the entity has a *decreasing adjustment in an income year that relates directly or indirectly to the expenditure, an amount equal to the decreasing adjustment is included in the entity's assessable income for that income year.
 (4) If the entity has an *increasing adjustment in an income year that relates directly or indirectly to the expenditure, the entity can deduct an amount equal to the increasing adjustment for that income year.
 (5) If the entity is a partnership and partners in that partnership can deduct amounts under Division 40 because section 40‑570 or 40‑665 applies, an amount equal to the *input tax credit, the *decreasing adjustment or the *increasing adjustment is apportioned to each of the partners as set out in subsection 40‑570(2) or 40‑665(2).
 (6) However, this section does not apply to an *exempt entity.

27‑110  Input tax credit etc. relating to 2 or more things
  This Subdivision applies to an *input tax credit, or an *increasing adjustment or *decreasing adjustment, that relates directly or indirectly to 2 or more things of which at least one is a *depreciating asset as if a reasonable proportion of the input tax credit or adjustment related directly or indirectly to each of those depreciating assets and each of those other things.

Division 28—Car expenses

Table of Subdivisions
 Guide to Division 28
28‑A Deductions for car expenses
28‑B Choosing which method to use
28‑C The "cents per kilometre" method
28‑F The "log book" method
28‑G Keeping a log book
28‑H Odometer records for a period
28‑I Retaining the log book and odometer records
28‑J Situations where you cannot use, or do not need to use, one