Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 40.33

  (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.