Taxation Ruling

TR 2019/5

Income tax: effective life of depreciating assets (applicable from 1 July 2019)

  • Please note that the PDF version is the authorised version of this ruling.
    This Ruling, which applies from 1 July 2019, replaces TR 2018/4 (see paragraph 5 of this Ruling for further details).
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Wholesale trade - (33110 to 38000)

WHOLESALE TRADE
(33110 to 38000)
ASSET LIFE
(YEARS)
REVIEWED DATE OF
APPLICATION
Barcode readers/scanners - see Table B Warehouse and distribution centre equipment and machines
Benches 15     *     1 Jul 2019
Dimensioning machines 15     *     1 Jul 2019
Ice making machines 8     *     1 Jul 2019
Intermediate bulk containers:
    Mild and stainless steel 15     *     1 Jul 2019
    Others 8     *     1 Jul 2019
Lifting and handling assets:
    Elevating work platforms 10     *     1 Jul 2019
    Forklifts - see Table B Warehouse and distribution centre equipment and machines
    Pallet conveyers see Table B Warehouse and distribution centres
    Pallet jacks - see Table B Loading bay assets
    Picking and collating machines - see Table B Warehouse and distribution centre equipment and machines
Ladders 4     *     1 Jul 2019
Livestock scales, weigh indicators and loading bars 5     *     1 Jul 2019
Racks - see Table B Warehouse and distribution centre equipment and machines
Packaging assets:
    Carton sealers and box taping machines 12     *     1 Jul 2019
    Pallet wrappers - see Table B Packaging machines
Pumps:
    Chemical pumps 10     *     1 Jul 2019
    Product pumps 12     *     1 Jul 2019
    Vacuum pumps 12     *     1 Jul 2019
    Water pumps 15     *     1 Jul 2019
Refrigeration assets - see Table B Refrigeration assets
Scales (excluding livestock scales) 10     *     1 Jul 2019
Signs - see Table B Advertising signs
Tanks:
    Chemical storage tanks 15 1 Jul 2019
    Water storage tanks 20 1 Jul 2019
Trailers - see Table B Motor vehicles and trailers
Trolleys - see Table B Warehouse and distribution centre equipment and machines
Unmanned aerial vehicles (drones/remotely piloted aircraft) - see Table B Unmanned aerial vehicles
Wool wholesaling
(33110)
ASSET LIFE
(YEARS)
REVIEWED DATE OF
APPLICATION
Wool presses 20     *     1   Jul   2006
Petroleum product wholesaling
(33210)
ASSET LIFE
(YEARS)
REVIEWED DATE OF
APPLICATION
Bulk fuel regional depot assets (excluding LPG assets):
    Cathodic protection systems:
        Sacrificial anode 10     *     1   Jul   2010
        Impressed current 20     *     1   Jul   2010
    Effluent treatment system (incorporating pumps, motors and electronic circuitry) 15     *     1   Jul   2010
    Electric pumps 10     *     1   Jul   2010
    Hoses 2     *     1   Jul   2010
    Loading gantries and racks (incorporating meters and metering systems) 15     *     1   Jul   2010
    Petroleum product storage tanks - fibreglass and steel 20     *     1   Jul   2010
    Rigid fuel tank truck assets:
        Aluminium tanks or barrels 10     *     1   Jul   2010
        Filters 5     *     1   Jul   2010
        Metering systems 5     *     1   Jul   2010
        Overfill protection systems 10     *     1   Jul   2010
        Pumping systems:
            Guns and nozzles 3     *     1   Jul   2010
            Hose reels 7     *     1   Jul   2010
            Hoses 2     *     1   Jul   2010
            Hydraulically driven pumps 8     *     1   Jul   2010
            Pipes and fittings 10     *     1   Jul   2010
        Tailgate loaders 15     *     1   Jul   2010
    Single or multi product gasoline and diesoline dispensers (incorporating meters, electronic circuitry, LCD displays, cash presets, hoses, automatic nozzles and steel cabinets and, where applicable, vapour recovery monitoring and collection systems) 10     *     1   Jul   2010
    Single or multi product gasoline and diesoline pumps (incorporating pump units, meter, electronic circuitry, LCD displays, cash presets, hoses, automatic nozzles, steel cabinets and, where applicable, vapour recovery monitoring and collection systems) 10     *     1   Jul   2010
    Submersible turbine pumps 8     *     1   Jul   2010
    Underground distribution piping systems (incorporating pipes, fittings and manholes) fibreglass and steel 20     *     1   Jul   2010
Bulk fuel terminal assets (excluding LPG assets):
    Automatic tank gauges 10     *     1   Jul   2010
    Effluent treatment systems (incorporating air pump, pipes, separator and tank) 10     *     1   Jul   2010
    Fire protection systems (incorporating auxiliary monitors, fire and UV detectors, fire indicator anels, fire retardant lines and foam storage tank) 15     *     1   Jul   2010
    Hoses 2     *     1   Jul   2010
    Loading and unloading arms (incorporating balance mechanisms, couplers, drop hoses and swivels) 10     *     1   Jul   2010
    Marketing pumps 7     *     1   Jul   2010
    Meters and metering systems 7     *     1   Jul   2010
    Overfill protection systems 10     *     1   Jul   2010
    Product piping (steel) 20     *     1   Jul   2010
    Terminal automation equipment 10     *     1   Jul   2010
    Vapour recovery units 15     *     1   Jul   2010
LPG depot and terminal assets:
    Automatic tank gauges 10     *     1   Jul   2010
    Cathodic protection systems:
        Sacrificial anode 10     *     1   Jul   2010
        Impressed current 20     *     1   Jul   2010
    Depot and terminal storage vessels - aboveground and underground 30     *     1   Jul   2010
    Electronic scales 10     *     1   Jul   2010
    Forklift fuel tanks:
        Galvanised steel or steel tanks coated with zinc rich enamel 15     *     1   Jul   2010
        Aluminium tanks 12     *     1   Jul   2010
    Hoses 5     *     1   Jul   2010
    In-situ permanently installed cylinders 30     *     1   Jul   2010
    Leak detection systems 8     *     1   Jul   2010
    Leisure market cylinders (4.5 and 9 kgs capacity) 15     *     1   Jul   2010
    Loading arms:
        Terminal 10     *     1   Jul   2010
        Marine 25     *     1   Jul   2010
    LPG fleet refuelling facility:
        Dispenser 10     *     1   Jul   2010
        Guns and nozzles 3     *     1   Jul   2010
        Hoses 5     *     1   Jul   2010
        Meters 7     *     1   Jul   2010
        Piping 20     *     1   Jul   2010
        Pump sets 10     *     1   Jul   2010
        Storage tanks 30     *     1   Jul   2010
        Valves 10     *     1   Jul   2010
    LPG tank truck assets:
        LPG storage tanks 20     *     1   Jul   2010
        Metering systems 7     *     1   Jul   2010
        Pumping systems:
            Guns and nozzles 3     *     1   Jul   2010
            Hoses 5     *     1   Jul   2010
            Hose reels 7     *     1   Jul   2010
            Pipes and fittings 7     *     1   Jul   2010
            Pumps 7     *     1   Jul   2010
            Valves 7     *     1   Jul   2010
    Product piping systems:
        Pipes 20     *     1   Jul   2010
        Valves 10     *     1   Jul   2010
    Pumps 7     *     1   Jul   2010
    Stillages 5     *     1   Jul   2010
    Vapour recovery units and vapour compressors 7     *     1   Jul   2010
    Weighbridges 25     *     1   Jul   2010
Commission-based wholesaling
(38000)
ASSET LIFE
(YEARS)
REVIEWED DATE OF
APPLICATION
Sale yards (used by stock and station agents) 30     *     1   Jul   2014

Not previously issued as a draft

References

ATO references:
NO 1-HHM96UX

Previous Rulings/Determinations:
TR 2013/4
TR 2014/4
TR 2015/2
TR 2016/1
TR 2017/2
TR 2018/4

ISSN: 2205-6122

Subject References:
depreciation
depreciation rate
effective life

Business Line:  PGI

Legislative References:
ITAA 1997
ITAA 1997 Div 40
ITAA 1997 40-25
ITAA 1997 40-70(1)
ITAA 1997 40-72(1)
ITAA 1997 40-75(1)
ITAA 1997 40-95
ITAA 1997 40-95(4)
ITAA 1997 40-95(5)
ITAA 1997 40-95(7)
ITAA 1997 40-100
ITAA 1997 40-100(5)
ITAA 1997 40-100(6)(b)
ITAA 1997 40-102
ITAA 1997 40-102(4)
ITAA 1997 40-102(4A)
ITAA 1997 40-105
ITAA 1997 40-110
ITAA 1997 40-345(2)
TAA 1953

Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2019 (No. 1)

TR 2019/5 history
  Date: Version: Change:
  26 June 2019 Original ruling  
You are here 22 April 2020 Consolidated ruling  

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