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  • Intangible asset depreciation

    On 7 December 2015, the government announced, as part of its National Innovation and Science agenda, changes to the depreciation of intangible assets.

    Under these changes, businesses will be able to:

    • self-assess the tax effective life of acquired intangible assets such as patents, to better align the tax treatment of the asset with the actual number of years it provides an economic benefit, and
    • continue to have the option to use existing statutory effective life to depreciate intangible assets.

    Start Date

    The measure will apply to assets acquired from 1 July 2016.

    Legislation and supporting material

    This change is not yet law and is subject to the normal parliamentary process.

    See also:

      Last modified: 12 May 2016QC 47663