Document ID: chunk:federal_register_of_legislation:C2025C00029:section:10:p17
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 10 (pt 17/17)
Character Range: 902343–903681

that the former holder would have used if section 40‑102 had not applied to the asset; or
 (e) if the former holder was using the *prime cost method—an effective life equal to any period of the effective life determined by the Commissioner for the asset under section 40‑100 that:
 (i) the former holder would have used if section 40‑102 had not applied to the asset; and
 (ii) is yet to elapse at the time you start to hold it.
 (6) However, you must use an *effective life determined by the Commissioner if:
 (a) you do not know, and cannot readily find out, which effective life the former holder was using and, if subsection (5B) or (5C) applied to the asset, either of the following matters:
 (i) the effective life the former holder would have used if section 40‑102 had not applied to the asset;
 (ii) the relevant time that applied to the former holder under subsection 40‑102(3); or
 (b) the former holder did not use an effective life.

Exception: intangible depreciating assets
 (7) The effective life of an intangible *depreciating asset mentioned in this table is the period applicable to that asset under the table.

Effective life of certain intangible depreciating assets
Item                                                      For this asset:                                                       The effective life is: