Income tax: substantiation rules: calculation of balancing adjustment for cars

Taxation Ruling TR 2000/6, which issued on 29 March 2000, provided guidance on the application of the balancing adjustment rules in Subdivisions 42-F and G of the Income Tax Assessment Act 1997 (ITAA 1997) to cars. The former Division 42 of the ITAA 1997 was repealed with effect from 1 July 2001. The depreciation rules in the former Division 42 of the ITAA 1997 were replaced with general effect from 1 July 2001 with the uniform capital allowance system contained in Division 40 of the ITAA 1997.

Some of the matters dealt with in TR 2000/6 are now dealt with in the notes to section 40-370 of the ITAA 1997. Other matters in the Ruling are now addressed in Draft Taxation Determination TD 2006/D17.

As TR 2000/6 is no longer current and its subject matter is dealt with in other forms, the Ruling is withdrawn.