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Choice of determining effective life

Last updated 7 April 2020

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:

QC27597