For Australian mid-size businesses, among their most important and valuable assets are intangible assets.

Broadly speaking, depreciation of these assets allows for some of the cost of acquisition and use to be recouped over the life of the assets in the form of tax deductions.

Currently, the effective life of most intangible depreciating assets is prescribed in s. 40.95(7) of the Income Tax Assessment Act 1997. An extract from the relevant table is below: