Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p6
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 6/50)
Character Range: 96967–99478

under Subdivision 46‑B of the former Act or for which you could have deducted amounts under that Subdivision if you had used the software for the purpose of producing assessable income before 1 July 2001, Division 40 of the new Act applies to the unit on this basis:
 (a) its cost is the amount of expenditure you incurred on the unit; and
 (b) you must use the prime cost method; and
 (c) its opening adjustable value at 1 July 2001 is its undeducted cost at the end of 30 June 2001; and
 (d) you must use the same effective life you were using under Subdivision 46‑B of the former Act or that you would have used if you had used the software for the purpose of producing assessable income before 1 July 2001.
Note: There are special rules for entities that have substituted accounting periods: see section 40‑65.

40‑30  Spectrum licences
 (1) This section applies to you if you have deducted or can deduct an amount under Division 380 of the former Act for expenditure incurred in obtaining a spectrum licence on or before 30 June 2001 or you could have deducted an amount under that Division for that expenditure if you had used the licence for the purpose of producing assessable income on or before that day.
 (2) Division 40 of the new Act applies to the spectrum licence on this basis:
 (a) its cost is your expenditure incurred in obtaining the licence; and
 (b) its opening adjustable value at 1 July 2001 is the amount of unrecouped expenditure for the licence at the end of 30 June 2001; and
 (c) its effective life is the same as it had under the former Act; and
 (d) you must use the prime cost method.
Note: There are special rules for entities that have substituted accounting periods: see section 40‑65.

40‑33  Datacasting transmitter licences
 (1) This section applies to you if you hold a datacasting transmitter licence at 1 July 2001.
 (2) Division 40 of the new Act applies to the licence on this basis:
 (a) its cost is your expenditure incurred in obtaining the licence; and
 (b) its opening adjustable value at 1 July 2001 is its cost; and
 (c) its effective life is 15 years less any period that has elapsed from the day the licence was issued until 1 July 2001; and
 (d) you must use the prime cost method.

40‑35  Mining unrecouped expenditure
 (1) This section applies to you if you have an amount of unrecouped expenditure under Division 330 of the former Act at the end of 30 June 2001.
Note: Subsection (6) also applies to a case where you did not have unrecouped expenditure at