Document ID: chunk:federal_register_of_legislation:C2025C00029:section:8:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 8 (pt 5/7)
Character Range: 930305–932988

Authority adjusts the licence to specify only areas A and B, and issues a new licence specifying area D.
 Area D represents 25% of the market value of the spectrum remaining in the licence. The adjustable value of the new licence is therefore $1m and the adjustable value of the original (modified) licence is $3m.
 (2) If a *spectrum licence you *hold is replaced by 2 or more spectrum licences (possibly including a modified version of your original licence) that together cover exactly the same rights as your original licence, this Division applies as if the original licence had been split into the replacement licences.

40‑122  Partial conversions of mining, quarrying or prospecting rights
 (1) This section applies if:
 (a) a *depreciating asset you *hold is a *mining, quarrying or prospecting right (the old right) that relates to an area; and
 (b) you begin to hold another depreciating asset (the partial new right) that:
 (i) is a mining, quarrying or prospecting right; and
 (ii) relates to an area that is a part of the area that the old right relates to; and
 (c) the old right does not end when you begin to hold the partial new right.
 (2) This Division applies as if:
 (a) when you begin to hold the partial new right, the old right is split into:
 (i) an asset that is the partial new right; and
 (ii) an asset that is the old right; and
 (b) the assets mentioned in subparagraphs (a)(i) and (ii) are both continuations of the old right.
Note: For the cost of the split assets, see section 40‑205.

40‑125  Merging depreciating assets
  If a *depreciating asset or assets that you *hold is or are merged into another depreciating asset, this Division applies as if you had stopped holding the original asset or assets and started holding the merged asset.
Note 1: For the cost of the merged asset, see section 40‑210.
Note 2: A balancing adjustment event does not occur just because you merge depreciating assets: see section 40‑295.

40‑130  Choices
 (1) A choice you can make under this Division about a *depreciating asset must be made:
 (a) by the day you lodge your *income tax return for the income year to which the choice relates; or
 (b) within a further time allowed by the Commissioner.
 (2) Your choice, once made, applies to that income year and all later income years.

Exception: recalculating effective life
 (3) However, subsection (2) does not apply to a choice to recalculate the *effective life of a *depreciating asset under section 40‑110.

40‑135  Certain anti‑avoidance provisions
  These anti‑avoidance provisions:
 (a) section 51AD (Deductions not allowable in respect of property under certain leveraged arrangements) of the Income Tax