Taxation Ruling

TR 2021/3

Income tax: effective life of depreciating assets (applicable from 1 July 2021)

  • Please note that the PDF version is the authorised consolidated version of this ruling and amending notices.
    This document has been Withdrawn.
    View the Withdrawal notice for this document.
    This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further details).

M

M
ASSET LIFE
(YEARS)
REVIEWED DATE OF
APPLICATION
Machine tools (grinding machines, lathes, milling machines etc):
    CNC and NC based machines 10     *     1 Jul 2014
    Conventional or manual machines 20     *     1 Jul 2014
Mini-skid steer loaders (with a carrying capacity less than or equal to 1100 kg) 5     *     1 Jul 2005
Mini-skid steer loader attachments:
    Others (including auger and bucket) 5     *     1 Jan 2004
    Stump grinders 2     *     1 Jan 2004
Motor graders 10     *     1 Jul 2002
Motor vehicles and trailers:
    Buses having a gross vehicle mass of more than 3.5 tonnes [51] 15     *#     1 Jan 2005
    Cars (motor vehicles designed to carry a load of less than one tonne and fewer than 9 passengers):
        Generally 8     *     1 Jan 2006
        Hire cars [52] :
            Cars used to provide basic service ride-sourcing, ride-hailing or ride-sharing services (e.g. uberX) 8     *     1 Jul 2016
            Generally (including cars used to provide premium service ride-sourcing, ride-hailing or ride-sharing services e.g. UberBLACK) 6     *     1 Jul 2016
        Rental cars [53] 5     *     1 Jul 2016
        Taxis 4     *     1 Jul 2015
    Garbage compactor trucks - see Table A Solid waste collection services (29110)
    Light commercial vehicles designed to carry a load of one tonne or greater and having a gross vehicle mass of 3.5 tonnes or less [54] 12     *#     1 Jan 2005
    Limousines:
        Sedan limousines 6     *     1 Jul 2016
        Stretch limousines 12     *     1 Jul 2016
    Minibuses having a gross vehicle mass of 3.5 tonnes or less and designed to carry 9 or more passengers [55] 12     *#     1 Jan 2005
    Motorcycles (including courier motorcycles and mailbox delivery motorcycles) 7     *     1 Jul 2015
    Scooters 3     *     1 Jul 2015
    Trailers having a gross vehicle mass greater than 4.5 tonnes [56] 15     *#     1 Jan 2005
    Trailers having a gross vehicle mass of 4.5 tonnes or less:
        Aluminium, galvanised steel, galvanised hot dipped steel and powder coated trailers 10     *     1 Jul 2015
        Mild steel trailers (painted and unpainted) 5     *     1 Jul 2015
    Trucks having a gross vehicle mass greater than 3.5 tonnes (excluding off highway trucks used in mining operations) [57] 15     *#     1 Jan 2005
Moving walks 20     *     1 Jan 2003
Musical instruments and associated equipment:
    Associated portable equipment (including amplifiers, microphones, speakers, mixers and music stands) 6 ⅔     *     1 Jan 2001
    Brass instruments (including bugles, cornets, euphoniums, horns, sousaphones, trombones, trumpets and tubas) 10     *     1 Jan 2001
    Keyboard instruments (including accordions, concertinas, organs, pianolas and pianos):
        Acoustic 10     *     1 Jan 2001
        Electric 5     *     1 Jan 2001
    Percussion instruments (including chimes, cymbals, drums, gongs, maracas and tambourines) 5     *     1 Jan 2001
    Stringed instruments (including banjos, basses, cellos, guitars, harps, mandolins, tiples, ukuleles, violas and violins) 10     *     1 Jan 2001
    Woodwind instruments (including bagpipes, bassoons, clarinets, flutes, oboes, pan pipes, piccolos and recorders) 10     *     1 Jan 2001


View complete RulingView complete RulingBack to top