• Item 3: Recalculation of effective life

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    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 X in the No box at R. Go to part C.

    If you have recalculated the effective life of any of your depreciating assets this income year, print X in the Yes box at R. Go to 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. Go to part C.

    Last modified: 09 Aug 2005QC 27593