Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p13
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 13/13)
Character Range: 836290–839443

tax offset
61‑590 Definition of MLS lump sums
Subdivision 61‑N—Seafarer tax offset
Guide to Subdivision 61‑N
61‑695 What this Subdivision is about
Operative provisions
61‑700 Object of this Subdivision
61‑705 Who is entitled to the seafarer tax offset
61‑710 Amount of the seafarer tax offset
Subdivision 61‑P—ESVCLP tax offset
Guide to Subdivision 61‑P
61‑750 What this Subdivision is about
Operative provisions
61‑755 Object of this Subdivision
61‑760 Who is entitled to the ESVCLP tax offset
61‑765 Amount of the ESVCLP tax offset—general case
61‑770 Amount of the ESVCLP tax offset—members of trusts or partnerships
61‑775 Amount of the ESVCLP tax offset—trustees
Division 63—Common rules for tax offsets
Guide to Division 63
63‑1 What this Division is about
63‑10 Priority rules
Division 65—Tax offset carry forward rules
Guide to Division 65
65‑10 What this Division is about
Operative provisions
65‑30 Amount carried forward
65‑35 How to apply carried forward tax offsets
65‑40 When a company cannot apply a tax offset
65‑50 Effect of bankruptcy
65‑55 Deduction for amounts paid for debts incurred before bankruptcy
Division 67—Refundable tax offset rules
Guide to Division 67
67‑10 What this Division is about
Operative provisions
67‑20 Which tax offsets this Division applies to
67‑23 Refundable tax offsets
67‑25 Refundable tax offsets—franked distributions
67‑30 Refundable tax offsets—R&D

Chapter 2—Liability rules of general application

Part 2‑10—Capital allowances: rules about deductibility of capital expenditure

Division 40—Capital allowances

Table of Subdivisions
 Guide to Division 40
40‑A Objects of Division
40‑B Core provisions
40‑C Cost
40‑D Balancing adjustments
40‑E Low‑value and software development pools
40‑F Primary production depreciating assets
40‑G Capital expenditure of primary producers and other landholders
40‑H Capital expenditure that is immediately deductible
40‑I Capital expenditure that is deductible over time
40‑J Capital expenditure for the establishment of trees in carbon sink forests
40‑K Farm‑in farm‑out arrangements

Guide to Division 40

40‑1  What this Division is about

      You can deduct an amount equal to the decline in value of a depreciating asset (an asset that has a limited effective life and that is reasonably expected to decline in value over the time it is used) that you hold.
      That decline is generally measured by reference to the effective life of the asset.
      You can also deduct amounts for certain other capital expenditure.

40‑10  Simplified outline of this Division
  The key concepts about depreciating assets and certain other capital expenditure are outlined below (in bold italics).

Simplified outline of this Division
Item                                 Major topic                                                                                                                                                                                                                                                                                   Provisions
                                     Subordinate topics
                                     Rules