s 40-15
In forceRecalculating effective life
Chapter 2Liability rules of general application
Part 2-10Capital allowances: rules about deductibility of capital expenditure
Division 40Capital allowances
Subdivision 40-BCore provisions
40-15 Recalculating effective life
You cannot recalculate the effective life of a depreciating asset for which:
(a)
you were using, just before 1 July 2001, a rate under subsection 42‑160(1) or 42‑165(1) of the former Act; or
(b)
you would have been using such a rate if you had used the asset, or had it installed ready for use, for the purpose of producing assessable income before that day.
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