Tax Laws Amendment (2005 Measures No. 1) Act 2005 (77 of 2005)

Schedule 2   Effective life of assets declining in value

Income Tax Assessment Act 1997

2   Subsection 995-1(1)

Insert:

gross vehicle mass of a vehicle means:

(a) the road weight specified by the manufacturer of the vehicle as the maximum design weight capacity of the vehicle; or

(b) in the absence of such a specification, the sum of:

(i) the weight of the vehicle; and

(ii) the weight of the maximum load for which the vehicle was designed (including the weight of the driver and a full tank of fuel, if applicable).