Depreciation on block of assets now based on prescribed percentage of written down value; leased buildings treated as owned. Depreciation is restructured to a prescribed percentage on the written down value of a block of assets; clause (i) and several subordinate clauses and subsection (1A) are omitted. Explanations treat capital expenditure on buildings by a leaseholder as if the structure were owned and adopt the defined meaning of written down value from the asset-valuation provision. Consequential changes narrow references in the subsection governing allowances to the single reworded clause on block-wise written down value.
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Provisions expressly mentioned in the judgment/order text.
Depreciation on block of assets now based on prescribed percentage of written down value; leased buildings treated as owned.
Depreciation is restructured to a prescribed percentage on the written down value of a block of assets; clause (i) and several subordinate clauses and subsection (1A) are omitted. Explanations treat capital expenditure on buildings by a leaseholder as if the structure were owned and adopt the defined meaning of written down value from the asset-valuation provision. Consequential changes narrow references in the subsection governing allowances to the single reworded clause on block-wise written down value.
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