EV 1051955410073currentnon-binding advice

Application of the exclusion in subsection 40-165(2) of the Income Tax (Transitional Provisions) Act 1997 (ITTP Act) to refurbishment works undertaken in stages

Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.

Will the exclusion in subsection 40-165(2) of the ITTP Act apply to preclude ABC Co from applying the temporary full expensing measures under Subdivision 40-BB of the ITTP Act to eligible depreciable assets that form part of the refurbishment works under Separable Portion (SP) X, SP Y and SP Z of the Refurbishment Contract dated pre 6 October 2020?

No.