Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2004 (No. 3) (Cth)

Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2004 (No. 3)

I, BRUCE WILLIAM QUIGLEY, Deputy Chief Tax Counsel, make this Determination under subsection 40-100 (3) of the Income Tax Assessment Act 1997.

Dated: 21 September 2004

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 2004 (No. 3).

1. Commencement

This Determination is taken to have commenced on 1 July 2004.

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 2004 (No. 1).

Schedule 1        Amendments

(section 3)

[1]          Table A, industry category MANUFACTURING (21110 to 29490), sub-category Copper, silver, lead and zinc smelting, refining and Basic non-ferrous metal manufacturing n.e.c. (27230) and (27290)

Omit the sub-category

[2]          Table A, industry category MANUFACTURING (21110 to 29490), sub-category Metal product manufacturing (27110 to 27690)

Insert after entry for Nail manufacturing plant

Pyrometallurgy process assets. ( Use any relevant effective lives in Table A, MINING (11010 to 15200)) 1Jul 2003

Insert after entry for Tank manufacturing plant

Tinsmiths’ plant 20 1 Jan 2001