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

4   Paragraph 40-95(6)(a)

Repeal the paragraph, substitute:

(a) you do not know, and cannot readily find out, which effective life the former holder was using and, if subsection (5B) or (5C) applied to the asset, either of the following matters:

(i) the effective life the former holder would have used if section 40-102 had not applied to the asset;

(ii) the relevant time that applied to the former holder under subsection 40-102(3); or