The Australian Taxation Office (ATO) has announced the release of a ruling confirming that labor costs incurred in the construction or creation of capital assets aren't immediately deductible.
---
Deductibility of capital asset labour costs ruling
We've released a Ruling confirming our long-standing view that labour costs incurred in the construction or creation of capital assets aren't immediately deductible.
Taxation Ruling TR 2023/2 Income tax: application of paragraph 8 1(2)(a) of …