New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

375   Subsection 995-1(1) (definition of effective life )

Repeal the definition, substitute:

effective life : the effective life of a *depreciating asset is worked out under sections 40-95, 40-100, 40-105 and 40-110.