Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteYou may choose that the decline in value of a particular depreciating asset for an income year is not to be worked out under this Subdivision.
40-190(2)
The choice must be in the approved form.
40-190(3)
The choice cannot be revoked.
40-190(4)
You must give the choice to the Commissioner by the day you lodge your income tax return for the income year to which the choice relates.
Note:
The Commissioner may defer the time for giving the choice: see section 388-55 in Schedule 1 to the Taxation Administration Act 1953 .
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