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Foundations of Tax 2021-23 – Session 9: Capital allowances: Core rules

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This session explores the tax principles underlying capital allowance deductions for business taxpayers and related balancing charges when assets are sold. It will also provide an overview of the deduction available in respect of buildings.

This session was recorded on 24 March 2022.
Learning outcomes

On successful completion of this topic, participants should be able to:
  • Explain the concept of depreciation (i.e. decline in value) and the conceptual framework of Division 40 ITAA97
  • Demonstrate an understanding of the key concepts that must be utilised when calculating depreciation deductions including:
    • Cost
    • Effective life
    • The prime cost and diminishing value methods
    • Balancing adjustment event
  • Apply these issues in a practical context.
This session forms part of the Foundations of Tax Series

These concise sessions have been specifically designed for our online education platform, to ensure that you get an in-depth understanding of the fundamental tax topics in minimal time.

Tristan Webb 
Senior Tax and Superannuation Trainer, Chartered Accountants ANZ
Tristan has more than 25 years’ tax experience in organisations such as the Australian Taxation Office, PwC, CCH and HLB Mann Judd. He was the national tax director at Crowe Horwath immediately before joining Chartered Accountants ANZ. His role required a good working knowledge of tax and risk issues for mid-tier accounting firms operating in the small to medium enterprise (SME) sector. Tristan’s expertise is in company and trust taxation for SMEs and high net worth clients.


Topic: Tax

Sub-Topic: Business Tax, Employment Taxes - PAYE, PAYG & FBT, Income Tax, International Tax, State/Territory Taxes, Tax Administration

Format: Recorded Webinar

Proficiency Level: Foundation

CPD: Upto 1.5 hours