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Item 3: Recalculation of effective life

Last updated 30 June 2003

You may recalculate the effective life of assets in certain circumstances if the effective life you have been using is no longer accurate. There are also circumstances where you must recalculate the effective life of a depreciating asset.

If you have not recalculated the effective life of any of your depreciating assets in this income year, print N for no at R. Go to part C.

If you have recalculated the effective life of any of your depreciating assets this income year, print Y for yes at R. Go to label S and/or T.

At S, write the total opening adjustable value of any depreciating assets (excluding motor vehicles) for which you recalculated the effective life this income year.

At T, write the total opening adjustable value of any motor vehicles for which you recalculated the effective life this income year.

QC27491