The Australian Taxation Office (ATO) is consulting on draft Tax Ruling (TR) 2019/D6, which explains when certain labour costs related to constructing or creating capital assets (tangible or intangible) cannot be deducted under section 8-1 of the Income Tax Assessment Act 1997 because of the capital exclusion in paragraph 8-1(2)(a).
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Consultation: draft TR 2019/D6 Guidance on labour costs incurred in relation to construction or creation of capital assets
We have released draft Taxation…