Income tax: what is the opening value of a unit of property, for the purposes of calculating depreciation, if the unit was previously used for purposes other than producing assessable income?
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FOI status:may be releasedFOI number: I 1213126
Notice of Withdrawal
The Determination explains how to calculate, under the Income Tax Assessment Act 1936, the opening value of a unit of property for the purposes of calculating depreciation if the unit was previously used for purposes other than producing assessable income. The principles outlined in this Determination have now been specifically enacted in Subdivision 42-E of the Income Tax Assessment Act 1997.
Commissioner of Taxation
4 October 2000
NO ADVC 1318(MEL)
notional depreciated value
FC of T v Anderson
(1956) 11 ATD 115
6 ATR 324