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of <h1>Manufacturers allowed one-time 15% deduction for qualifying new plant and machinery if cost thresholds and timing conditions met</h1> A company engaged in manufacturing that acquires and installs qualifying new plant or machinery during specified windows is entitled to a one-time deduction equal to 15% of actual cost where statutory aggregate cost thresholds are exceeded (large investments in 2013-2015 and a lower threshold for certain years up to 31 March 2017, with the deduction disallowed for assessment years on/after 1 April 2018). The deduction is allowed in the year of installation (with rules if installation occurs after acquisition) and is clawed back as taxable income if the asset is sold or transferred within five years (special treatment on amalgamation/demerger). 'New asset' excludes previously used items, office/residential installations, office appliances/software, vehicles, and assets fully deductible earlier.
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