Taxation Ruling
TR 2021/3
Income tax: effective life of depreciating assets (applicable from 1 July 2021)
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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that the PDF version is the authorised consolidated version of this ruling and amending notices.This document has been Withdrawn.View the Withdrawal notice for this document.This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further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 |
Not issued as a draft
References
ATO references:
NO 1-P4Z8VU5
Previous Rulings/Determinations:
TR 2015/2
TR 2016/1
TR 2017/2
TR 2018/4
TR 2019/5
TR 2020/3
Subject References:
depreciation
depreciation rate
effective life
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)
IT(TP)A 1997 Subdiv 40-BB
TAA 1953
Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2021