INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Use the following table to work out the annual write-off rate and the maximum write-off period for a plant. The maximum write-off period for a plant begins at the time when the plant first became capable of being used:
(a) for the purpose of producing assessable income; and
(b) in a business of horticulture.
|Years in effective life of plant||Annual write-off rate||Maximum write-off period|
|3 to fewer than 5||0.40||2 years and 183 days|
|5 to fewer than 6 2/3||0.27||3 years and 257 days|
|6 2/3 to fewer than 10||0.20||5 years|
|10 to fewer than 13||0.17||5 years and 323 days|
|13 to fewer than 30||0.13||7 years and 253 days|
|30 or more||0.07||14 years and 105 days|
Effective life is defined by section 124ZZK .
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