Taxation Laws Amendment Act (No. 5) 2002 (119 of 2002)

Schedule 3 Capital allowances

Repeal the subsection, substitute:

(4) The remaining effective life of a *depreciating asset is any period of its *effective life that is yet to elapse as at:

(a) the start of the change year; or

(b) in the case of a roll-over under section 40-340 - the time when the *balancing adjustment event occurs for the transferor.

Note: Effective life is worked out in years and fractions of years.