Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2003 (No. 1) (Cth)

Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2003 (No. 1)

I, BRUCE WILLIAM QUIGLEY, Deputy Chief Tax Counsel, make this Determination under subsection 40-100 (1) of the Income Tax Assessment Act 1997.

Dated: 10 June 2003

Signed by Bruce Quigley

Deputy Chief Tax Counsel

1. Name of Determination

This Determination is the Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2003 (No. 1).

1. Commencement

This Determination is taken to have commenced on 1 January 2003.

1. Amendment of Income Tax (Effective Life of Depreciating Assets) Determination 2001

Schedule 1 amends the Income Tax (Effective Life of Depreciating Assets) Determination 2001, as amended by the Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2002 (No. 2).

Schedule 1        Amendments

(section 3)

[1]           Table A, industry category Manufacturing (21110 to 29490), sub-category Metal and Metal Product Manufacturing (27110 to 27690)

after

Nail Manufacturing Plant 20 1 Jan 2001

insert

Smelting Plant 8 * 1 Jan 2003

[2]           Table A, industry category Mining (11010 to 15200), sub-category Coal Mining and Metal Ore Mining etc (11010 to 11020) and (13110 to 15200)

before

Mineral Sand Mining and Processing:

insert

General plant  13¹/₃ * 1 Jan 2003