Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe rules that apply to most depreciating assets are in this Subdivision. It explains:
• what a depreciating asset is; and
• when you start deducting amounts for depreciating assets; and
• how to work out your deductions.
It also contains rules for splitting and merging depreciating assets.
Table of sections
Operative provisions
40-25 Deducting amounts for depreciating assets
40-30 What a depreciating asset is
40-35 Jointly held depreciating assets
40-40 Meaning of hold a depreciating asset
40-45 Assets to which this Division does not apply
40-50 Assets for which you deduct under another Subdivision
40-53 Alterations etc. to certain depreciating assets
40-55 Use of certain car methods
40-60 When a depreciating asset starts to decline in value
40-65 Choice of methods to work out the decline in value
40-70 Diminishing value method
40-72 Diminishing value method for post-9 May 2006 assets
40-75 Prime cost method
40-80 When you can deduct the asset's cost
40-85 Meaning of adjustable value and opening adjustable value of a depreciating asset
40-90 Debt forgiveness
40-95 Choice of determining effective life
40-100 Commissioner's determination of effective life
40-102 Capped life of certain depreciating assets
40-105 Self-assessing effective life
40-110 Recalculating effective life
40-115 Splitting a depreciating asset
40-120 Replacement spectrum licences
40-125 Merging depreciating assets
40-130 Choices
40-135 Certain anti-avoidance provisions
40-140 Getting tax information from associates