The Australian Taxation Office (ATO) has announced final Law Companion Ruling (LCR) 2021/3 on Temporary Full Expensing, which is effective both before and after its date of issue.

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What this Ruling is about

1. This Ruling is about provisions for temporary full expensing of depreciating assets introduced by the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2…