Commonwealth Consolidated Acts Commonwealth Consolidated ActsYou may choose to work out the decline in value of low - cost assets (assets costing less than $1,000) and certain other depreciating assets through a low - value pool.
You may also choose to deduct amounts for expenditure you incur on in - house software through a software development pool.
Table of sections
Operative provisions
40 - 425 Allocating assets to a low - value pool
40 - 430 Rules for assets in low - value pools
40 - 435 Private or exempt use of assets
40 - 440 How you work out the decline in value of assets in low - value pools
40 - 445 Balancing adjustment events
40 - 450 Software development pools
40 - 455 How to work out your deduction
40 - 460 Your assessable income includes consideration for pooled software