Document ID: chunk:federal_register_of_legislation:C2024A00052:clause:2_1:p4
Version: federal_register_of_legislation:C2024A00052
Segment Type: clause
Provision Reference: sch 2 cl 1 (pt 4/4)
Character Range: 15471–16488

that can use a fossil fuel (other than a use of which that is merely incidental);
 (b) expenditure (other than expenditure referred to in subparagraph (3)(e)(i)) on an asset that can use a fossil fuel (other than a use of which that is merely incidental);
 (c) an asset that solely or predominantly generates electricity from a renewable source (for example, photovoltaic cells) or expenditure on such an asset;
 (d) an asset, or expenditure, being capital works for which you can deduct an amount under Division 43 of the Income Tax Assessment Act 1997;
 (e) a motor vehicle or expenditure on a motor vehicle;
 (f) an asset, or expenditure on an asset, where expenditure on the asset is allocated to a software development pool;
 (g) financing costs, including interest, payments in the nature of interest and expenses of borrowing.
Note: Subsections (1) and (3) also do not apply to an item of trading stock because such an asset is not a depreciating asset: see section 40‑30 of the Income Tax Assessment Act 1997.