Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * depreciating asset you * hold starts to decline in value from when its * start time occurs.
(2) The start time of a * depreciating asset is when you first use it, or have it * installed ready for use, for any purpose.
Note: Previous use by a transition entity is ignored: see section 58-70.
(3) However, there is another start time for a * depreciating asset you * hold if a * balancing adjustment event referred to in paragraph 40-295(1)(b) occurs for the asset and you start to use the asset again. Its second start time is when you start using it again.