Taxation Laws Amendment Act (No. 4) 2002 (53 of 2002)

Schedule 4   Effective life of depreciating assets

Part 1   Amendments

Income Tax Assessment Act 1997

1   At the end of subsection 40-95(1)

Add:

Note: If you choose to use an effective life determined by the Commissioner for a depreciating asset, a capped life may apply to the asset under section 40-102.