• 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. In certain circumstances, you must recalculate the effective life of a depreciating asset.

    Label R

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

    Print Y for yes at R if you have recalculated the effective life of any of your depreciating assets. If you printed Y, you will need to complete S and/ or T.

    Label S

    Write at S the total opening adjustable value of any depreciating assets (excluding motor vehicles) for which you have recalculated the effective life.

    Label T

    Write at T the total opening adjustable value of any motor vehicles for which you have recalculated the effective life.

    Last modified: 21 Oct 2002QC 27435