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TD 2006/33 - Income tax: is the cost of a depreciating asset purchased by a taxpayer to assist them undertake a specific client project immediately deductible under section 8-1 or written off over the effective life of the asset under section 40-25 of the Income Tax Assessment Act 1997 if the taxpayer continues to hold the asset after the project ends?

[2006] ATOTD TD2006/33

Australian Taxation Office

Australia - Commonwealth

Legislation Cited

Legislation Name	Provision
Income Tax Assessment Act 1997 (Cth)	s2.5, s28.5
Taxation Administration Act 1953 (Cth)

Cases and Articles Cited

Case Name	Citation(s)	Court	Jurisdiction	Date †	Full Text		Citation Index
GP International Pipecoaters Pty Ltd v FCT	[1990] HCA 25; (1990) 170 CLR 124; (1990) 93 ALR 193; (1990) 21 ATR 1; 64 ALJR 392; [1990] ATC 4,413	High Court of Australia	Australia - Commonwealth	circa 1990	AustLII		368
Sun Newspapers Ltd v FCT	[1938] HCA 73; (1938) 61 CLR 337; [1939] ALR 10; 5 ATD 87; (1938) 1 AITR 403	High Court of Australia	Australia - Commonwealth	23 Dec 1938	AustLII		398

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