Somekeyprovision:

Div40UniformCapitalAllowances(UCA)
Div43CapitalWorksAllowances(buildingdepreciation)
Div4025(1)&(2):
Youcandeductanamountequaltothedeclineinvalueforanincomeyear...
ofadepreciatingassetthatyouheldforanytimeduringtheyear.
Deductionreducedwhereassetsdeclineinvalueattributabletoitsusefora
purposeotherthanataxablepurpose.
s4030:definitionofadepreciatingasset:
anassetthathasalimitedeffectivelifeandcanreasonablybeexpectedtodecline
invalueovertimeExcept:
Land
Tradingstock
Most(butnotall)intangibleassets
s4040:
tochoosebetweencompetingowners(economicvslegalowner)
s4045(2):
Div40doesnotapplytoDiv43capitalworks
s4065:Primecostordiminishingvalue?
Inmostcases,taxpayercanchoose:s4065(1)
Acquirefromassociate:mustusesamemethod:s4065(2)
Acquirefromformerholder:mustusesamemethod:s4065(3)
s40130:
Mustmakechoicebytimeoflodgingtaxreturnthatincludesthecalculation:
s40130(1)(a).
Oncechoicemadeforanasset,cannotbechanged:s40130(2)
s4370(2)(e):
Div43doesnotapplytoexpenditureonplant
Refertolectureslidesfromslide16forsections

s4540:meaningofplant
including,amongotherthings,articles,machinery,toolsandrollingstock