Australian Parliament Considering Draft Bill Providing for Self-Assessment of Effective Life of Intangible Assets

The Australian parliament is considering the Treasury Laws Amendment (Enhancing Tax Integrity and Supporting Business Investment) Bill 2022. The main tax measures of the bill concern the depreciation of intangible assets, which provide taxpayers with the choice to self assess the effective life of certain intangible depreciating assets they start to hold on or after 1 July 2023, rather than us…
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