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TR 2017/D1, which issued on 18 January 2017, explains the Commissioner's preliminary views on: • how to determine whether a composite item is itself a depreciating asset or whether its components are separate depreciating assets for the purposes of Division 40 of the Income Tax Assessment Act 1997 (capital allowances), and • whether an 'interest in an underlying asset' for the purposes of section 40-35 of the Income Tax Assessment Act 1997 requires an entity to have an interest in all parts of a depreciating asset, or whether an interest in any part of the asset is enough.

TR 2017/D1 has been replaced by draft Taxation Ruling TR 2023/D2 Income tax: composite items - identifying the relevant depreciating asset for capital allowances, which issued today. A decision was made to reissue TR 2017/D1 as an updated draft for public consultation due to the time that has elapsed since its release, changes in style or expression and updates for developments in the law.