Document ID: chunk:federal_register_of_legislation:C2004C00958:clause:1_9:p1
Version: federal_register_of_legislation:C2004C00958
Segment Type: clause
Provision Reference: sch 1 cl 9 (pt 1/4)
Character Range: 612415–616557

9                             a *balancing adjustment event happened to which Common rule 1 applies (see section 373‑85)                                                       the transferor's *unrecouped expenditure on the item immediately before the event                                                                                                                 not applicable

373‑35  Effective life of intellectual property

  The effective life of an item of *intellectual property begins at the start of the first income year (the starting year) for which you can deduct an amount for the item under this Subdivision. It ends at the end of the income year specified in the table.

Note: If you have owned the item since before the 1998‑99 income year: see instead subsection 373‑10(3) of the Income Tax (Transitional Provisions) Act 1997.

Effective life of an item of intellectual property
Item                                                For this item:                                  The effective life ends at the end of:
  1                                                 standard patent                                 the income year of the 20th anniversary of the date of the patent
  2                                                 petty patent                                    the income year of the 6th anniversary of the date of the patent
  3                                                 registered design                               the income year of the 15th anniversary of registration of the design
  4                                                 copyright                                       the earlier of:

                                                                                                    (a) the income year of the 25th anniversary of you becoming owner of the copyright; or

                                                                                                    (b) the income year in which the copyright ends
  5                                                 a licence (except one relating to a copyright)  the income year in which the licence ends
  6                                                 a licence relating to a copyright               the earlier of:

                                                                                                    (a) the income year in which the licence ends; or

                                                                                                    (b) the income year of the 25th anniversary of you becoming the licensee

Subdivision 373‑C—Partial realisation of item of intellectual property

Guide to Subdivision 373‑C

373‑40  What this Subdivision is about

      If you partially realise an item of intellectual property, the amount arising:

                (a) reduces your unrecouped expenditure on the item, and so reduces your future deductions; and

                (b) if it exceeds your unrecouped expenditure, is included in your assessable income, but only to the extent of your past deductions for the item.

Table of sections

Operative provisions

373‑45 Amount arising from a partial realisation of the item
373‑50 How to work out the effects of the partial realisation
373‑55 Item of intellectual property left after partial realisation

[This is the end of the Guide.]

Operative provisions

373‑45  Amount arising from a partial realisation of the item

  A partial realisation of an item of *intellectual property is an event described in column 2 of an item in the table.

  The amount arising from the partial realisation is the amount described in column 3 of that item. (If more than one item applies, use the amount arising described in the last applicable item.)

Partial realisation of an item of intellectual property
Item                                                     Event that is a partial realisation                                                                                                                                                                                                              Amount arising from