The amendments to the taxation treatment of business-related capital expenditure (referred to as ‘blackhole expenditure’) were intended to provide a “systematic solution” to the problems of the business blackhole expenditure regime. To achieve this end the amendments repealed the original rules that limited tax deductions to specific circumstances and replaced them with an all inclusive approach designed to capture everything not addressed in the Income Tax Assessment Act, 1936 and Income Tax Assessment Act, 1997. This presentation looks to consider the application of these rules and to apply them to practical situations. In particular, the new rules have introduced new terms as well as qualifying criteria that the expenditure must satisfy before the blackhole deduction is available.
Miscellaneous
2006
Blackhole expenditure
Source: New South Wales
Published Date: 7 Dec 2006
Individual Session
Blackhole expenditure
Author(s):
Zubair Bangash CTA
Materials from this
session:
Details
- Published By: Zubair Bangash CTA
- Published On:7 Dec 2006
- Took place at:The Menzies Hotel, Sydney, and The Crowne Plaza, Parramatta
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Tags
Miscellaneous
2006
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