Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 40.15

                   You cannot recalculate the effective life of a depreciating asset for which:

                     (a)  you were using, just before 1 July 2001, a rate under subsection 42‑160(1) or 42‑165(1) of the former Act; or

                     (b)  you would have been using such a rate if you had used the asset, or had it installed ready for use, for the purpose of producing assessable income before that day.