Income Tax Assessment Act 1997
This is how to work out the notional depreciation for a lease period: Method statement
If the car ' s cost exceeds the car ' s termination value, multiply the excess by:
The result is the notional depreciation for the lease period.
If the car ' s cost does not exceed the car ' s termination value, the notional depreciation for the lease period is zero.
The notional depreciation for the lease period represents:
The car ' s cost to the lessor is worked out differently if the lessor acquired it in the 1996-97 income year or an earlier income year: see section 20-105 of the Income Tax (Transitional Provisions) Act 1997 .
The car ' s termination value is worked out differently if the lessor disposed of it in the 1996-97 income year or an earlier income year: see section 20-110 of the Income Tax (Transitional Provisions) Act 1997 .
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