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  • Capital allowances: draft effective lives of assets in salt harvesting industry

    We are seeking comments from interested parties on the draft list of effective lives for assets used in the salt harvesting industry.

    Comments are open until 7 April 2021.

    Proposed new determinations

    We propose adding the following list of effective life determinations to the Commissioner's schedule. This will apply to assets purchased or otherwise first used or installed ready to use, on or after 1 July 2021 (within the meaning of section 40-95 of the Income Tax Assessment Act 1997).

    Other Non-Metallic Mineral Mining and Quarrying n.e.c. (ANZSIC code 09909) - Salt harvesting industry

    All assets proposed in this determination will take effect from 1 July 2021 (excluding Table B assets).

    Table of salt harvesting assets

    Asset type

    Effective life (years)

    Culverts

    50

    Dollies

    15

    Dozers

    10

    Dump bridges

    25

    Excavators

    10

    Front-end loaders

    10

    Graders

    10

    Harvesters

    7

    Levees

    40

    Mobile pump stations

    5

    Mooring buoys

    25

    Port assets - see Table A Water transport and support services (48100 to 48200 and 52110 to 52190)

     

    Pumps (including primary intake pumps, channel pumps, concentrator pond pumps, bore pumps etc)

    15

    Tractors - see Table B Tractors

     

    Trailers

    10

    Trucks

    15

    Tug boats - see Table A Water transport and support services (48100 to 48200 and 52110 to 52190)

     

    See also:

    Tell us what you think

    If you have an interest in these draft effective lives, we invite you to comment. If you disagree with a proposed effective life, tell us your recommended effective life and why.

    Send your comments or questions to Andrey Chichkanov by 7 April 2021:

      Last modified: 17 Mar 2021QC 65089