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Item 4: Self-assessed effective life

Last updated 12 March 2020

For most depreciating assets, you can choose either

  • to work out the effective life yourself (self-assess), or
  • to use an effective life determined by the Commissioner.

If you have adopted the Commissioner's effective life determination for all your depreciating assets included at A, B and C, print X in the No box at D. Go to part B of this schedule.

If you have self-assessed the effective life of any of your depreciating assets included at A, B or C, print X in the Yes box at D. Go to E and F.

At E, write the total cost of all your depreciating assets (excluding motor vehicles) for which you:

  • self-assessed the effective life, and
  • claimed a deduction for decline in value for the first time this income year.

At F, write the total cost of all your motor vehicles for which you:

  • self-assessed the effective life, and
  • claimed a deduction for decline in value for the first time this income year (see note to item 3).

Go to part B of this schedule.

QC27794