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  • Choice of determining effective life



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

    End of attention

    For most depreciating assets, you have a choice to either work out the effective life yourself or use an effective life determined by the Commissioner.

    The choice must be made for the income year in which the asset's start time occurs. Generally, the choice must be made by the time you lodge your income tax return for that year.

    However, the choice is not available:

    Last modified: 01 Jun 2005QC 27453