Capital allowances

Primary legislative references

Depreciating assets

Primary legislative reference

Subdivision 40-B of the Income Tax Assessment Act 1997

Effective life

Primary legislative references

Sections 40-95, 40-100 and 40-105 of the Income Tax Assessment Act 1997

Taxation rulings

Effective lives are published in tables attached to taxation rulings relating to the effective life of depreciating assets. Previously, these tables were updated and revised every six months by an addendum to one ruling (TR 2000/18). There were several such addenda to Taxation Ruling TR 2000/18. The publication of Taxation Ruling TR 2006/5 saw the practice of periodically updating the tables by issuing a new ruling.

Low-cost assets

Practice statement

Practice Statement PS LA 2003/8 Taxation treatment of expenditure on low cost items for taxpayers carrying on a business

Low-value pools

Primary legislative reference

Subdivision 40-E of the Income Tax Assessment Act 1997

More information

For more information, visit the Capital allowances homepage.

    Last modified: 14 Jul 2016QC 16525