Changes have been made to ensure that all business operating costs, including those for dealing with environmental issue, are taken into consideration in calculating taxable income, and that the timing of such deductions is appropriate.
This section explains default expenditure categories and deduction rates, application dates, default expenditure categories and amortisation rates, other changes and category-specific deduction rates.
Some business activities cause environmental damage when they discharge a contaminant. The business must later restore this damage. The environmental restoration account (ERA) scheme allows businesses to set money aside to cover their monitoring or restoration costs to do this.
Explaining what is meant by "industrial waste".
Date published: 09 Dec 2005