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of <h1>Business deduction of capital expenditures for patent and copyright rights: annual amortization over 14 years with sale and transfer adjustments</h1> Expenditure of a capital nature on acquiring patent rights or copyrights used in a business is deductible by allowing an annual amortization equal to one-over the number of relevant previous years (generally 14 years, reduced if rights commenced earlier), beginning with the year of expenditure (or business commencement). If the rights end or are sold, deductions are adjusted: no further amortization if sale proceeds equal or exceed unallowable cost; a remaining unallowed cost (reduced by proceeds) may be deducted if proceeds are less; excess proceeds over unallowed cost are taxable as business income. Special carry-over rules apply on amalgamation or demerger to the transferee company.
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