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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 40.33

Datacasting transmitter licences

             (1)  This section applies to you if you hold a datacasting transmitter licence at 1 July 2001.

             (2)  Division 40 of the new Act applies to the licence on this basis:

                     (a)  its cost is your expenditure incurred in obtaining the licence; and

                     (b)  its opening adjustable value at 1 July 2001 is its cost; and

                     (c)  its effective life is 15 years less any period that has elapsed from the day the licence was issued until 1 July 2001; and

                     (d)  you must use the prime cost method.



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