Further depreciation extended to power generation businesses, permitting additional deduction for new plant and machinery acquisitions.

The amendment adds the business of power generation and generation-and-distribution to the category eligible for further depreciation, permitting a further deduction for new plant and machinery (other than ships and aircraft) acquired and installed after the prescribed cut-off, aligning eligibility with the existing provision for manufacturers and applying prospectively to assessments after the commencement.

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