Tax Laws Amendment (Loss Recoupment Rules and Other Measures) Act 2005 (147 of 2005)

Schedule 4 Film copyright

Repeal the example, substitute:

Example: Some examples of changes in circumstances that may result in your recalculating the effective life of a depreciating asset are:

· your use of the asset turns out to be more or less rigorous than you expected (or was anticipated by the Commissioner's determination);

· there is a downturn in demand for the goods or services the asset is used to produce that will result in the asset being scrapped;

· legislation prevents the asset's continued use;

· changes in technology make the asset redundant;

· there is an unexpected demand, or lack of success, for a film.