Taxation Determination

TD 92/142W

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

Taxation Determination TD 92/142 is no longer necessary and, therefore, is withdrawn.

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

References

ATO references:
NO ADVC 1318(MEL)

ISSN 1038 - 3158

Subject References:
depreciation
opening value
notional depreciated value

Legislative References:
ITAA 54;
ITAA 61

Case References:
FC of T v Anderson
(1956) 11 ATD 115
6 ATR 324

TD 92/142W history
  Date: Version: Change:
  20 August 1992 Original ruling  
You are here 4 October 2000 Withdrawn