The following points should be considered in relation to the capital goods scheme (CGS):

(1)Identify all capital goods (also known as capital items or capital assets) to which the CGS applies which a person purchases, creates or constructs for use in his business even if the person is fully taxable and is expected to remain fully taxable, i.e. making only taxable supplies (¶19-810ff.; Notice 706/2;).

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