Tax Law Improvement Act (No. 1) 1998 (46 of 1998)
4 Intellectual property (new Division 373)
2 Consequential amendment of the Income Tax Assessment Act 1997
7 Section 40-30 (table item dealing with 'industrial property')
Repeal the item, substitute:
|
Industrial property (relating to a copyright in an Australian film) |
Capital expenditure on acquiring a unit of industrial property to produce assessable income |
Any entity |
Effective life (2 years to 25 years) |
Balancing adjustment required |
Division 10B of Part III |
|
Intellectual property |
Capital expenditure on acquiring an item of intellectual property to produce assessable income |
Any entity |
Effective life (up to 25 years, depending on the kind of item) |
Balancing adjustment required |
Division 373 |
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