Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 900.120

(1) You may use this set of rules only for a depreciation expense.

(2) You must get evidence of the original acquisition of the depreciating
property. It must be a document that you get from the supplier of the property
and that specifies:

   (a)  the name or business name of the supplier; and

   (b)  the cost of the property to you; and

   (c)  the nature of the property; and

   (d)  the day you acquired the property; and

   (e)  the day it is made out.

(3) However, if the document the supplier gave you does not specify the nature
of the property, you may write in the missing details yourself before you
lodge your *income tax return for the income year in which you first claim a
deduction for depreciation of the property.

(4) If you don't get the document in time, for example because you only
decided to use the property for income-producing purposes several years after
you acquired it, there are rules that might help you in Subdivision 900-H
(Relief from effects of failing to substantiate).

(5) The document must be in English. However, if you imported the property
into Australia, the document can instead be in a language of the country from
which the property was originally exported.