INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-B - 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.




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