Income Tax (Transitional Provisions) Act 1997
CHAPTER 2
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LIABILITY RULES OF GENERAL APPLICATION
PART 2-10
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CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
Division 40
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Capital allowances
Subdivision 40-B
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Core provisions
SECTION 40-33
Datacasting transmitter licences
40-33(1)
This section applies to you if you hold a datacasting transmitter licence at 1 July 2001.
40-33(2)
Division 40 of the new Act applies to the licence on this basis:
(a) its cost is your expenditure incurred in obtaining the licence; and
(b) its opening adjustable value at 1 July 2001 is its cost; and
(c) its effective life is 15 years less any period that has elapsed from the day the licence was issued until 1 July 2001; and
(d) you must use the prime cost method.
View history note
Hide history noteThis section applies to you if you hold a datacasting transmitter licence at 1 July 2001.
40-33(2)
Division 40 of the new Act applies to the licence on this basis:
(a) its cost is your expenditure incurred in obtaining the licence; and
(b) its opening adjustable value at 1 July 2001 is its cost; and
(c) its effective life is 15 years less any period that has elapsed from the day the licence was issued until 1 July 2001; and
(d) you must use the prime cost method.
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