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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.

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

    However, the choice is not available:

    Last modified: 27 Aug 2007QC 27892