DI 1New investment assets

1. The main purpose of this subpart is to allow a person a deduction in relation to expenditure on a new investment asset, effectively accelerating depreciation or amortisation, as applicable, for that asset.

2. In this subpart,—

3. section DI 2 provides rules for when this subpart applies and does not apply:
4. section DI 3 provides the meaning of new asset transferee:
5. section DI 4 provides the meaning of new investment asset:
6. section DI 5 allows deductions for expenditure on new investment assets:
7. section DI 6 provides relationships between this subpart and other provisions of the Act for a person allowed a deduction for a new investment asset and also for certain other people, for example, new asset transferees. Section DI 6 removes, where appropriate, the amount of a deduction for a new investment asset from the calculation of other deductions, tax cost bases, and associated calculations for the asset under relevant depreciation and amortisation provisions, so as to ensure that those other deductions are calculated post-new investment asset deduction. Section DI 6 contains examples of its application.