Document ID: chunk:federal_register_of_legislation:C2004A00844:clause:1_10:p13
Version: federal_register_of_legislation:C2004A00844
Segment Type: clause
Provision Reference: sch 1 cl 10 (pt 13/13)
Character Range: 53264–55019

component in working out the amounts you can deduct for it.
      There are 2 elements of the cost of a depreciating asset. This Subdivision shows you how to work out those elements.

Table of sections

Operative provisions

40‑175 Cost
40‑180 First element of cost
40‑185 Amount you are taken to have paid to hold a depreciating asset or to receive a benefit
40‑190 Second element of cost
40‑195 Apportionment of cost
40‑200 Exclusion from cost
40‑205 Cost of a split depreciating asset
40‑210 Cost of merged depreciating assets
40‑215 Adjustment: double deduction
40‑220 Cost reduced by amounts not of a capital nature
40‑225 Adjustment: acquiring a car at a discount
40‑230 Adjustment: car limit

[This is the end of the Guide.]

Operative provisions

40‑175  Cost

  The cost of a *depreciating asset you *hold consists of 2 elements.

40‑180  First element of cost

 (1) The first element is worked out as at the time when you began to *hold the *depreciating asset (except for a case to which item 3 or 4 of the table in subsection (2) applies). It is:
 (a) if an item in that table applies—the amount specified in that item; or
 (b) otherwise—the amount you are taken to have paid to hold the asset under section 40‑185.

Note: The first element of the cost may be modified by a later provision in this Subdivision.

 (2) If more than one item in this table covers the asset, apply the last item that covers it.

First element of the cost of a depreciating asset
Item                                               In this case:                                                                                                                                                                                                             The cost is: