Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)
Schedule 1 Effective life provisions
Income Tax Assessment Act 1997
6 Subsection 40-110(4)
Repeal the subsection, substitute:
(4) A recalculation under this section must be done using:
(a) if paragraph (b) does not apply - section 40-105 (about self-assessing effective life); or
(b) if the *depreciating asset is a *mining, quarrying or prospecting right - subsections 40-95(10) and (11).
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