Taxation Ruling

TR 2006/5W

Income tax: effective life of depreciating assets

FOI status:

may be released

Notice of Withdrawal

Taxation Ruling TR 2006/5 is withdrawn on and from 1 January 2007.

1. Taxation Ruling TR 2006/5 has been replaced by Taxation Ruling >TR 2006/15, which applies on and from 1 January 2007. To the extent that the views contained in TR 2006/5 still apply, they have been incorporated into TR 2006/15.

2. The Commissioner's determination of the effective life of depreciating assets has been amended with effect from 1 January 2007. If, for a particular asset, you were using an effective life from the determination as in force before the latest amendment (for example, as contained in the Schedule to TR 2006/5), you may continue to use that life for that asset.

Commissioner of Taxation
20 December 2006

References

ATO references:
NO 2005/18404

ISSN 1039 - 0731

Related Rulings/Determinations:

IT 2685
TR 2000/18
TR 2006/15
TR 2007/3

Subject References:
depreciation
depreciation rates
effective life

Legislative References:
ITAA 1997 Div 40
ITAA 1997 Subdiv 40-E
ITAA 1997 Subdiv 40-F
ITAA 1997 40-70(1)
ITAA 1997 40-75(1)
ITAA 1997 40-95
ITAA 1997 40-100
ITAA 1997 40-100(4)
ITAA 1997 40-100(4)(b)
ITAA 1997 40-105(1)
ITAA 1997 40-110
ITAA 1997 Div 42
ITAA 1997 Subdiv 42-M
ITAA 1997 Div 43
TAA 1953

TR 2006/5 history
  Date: Version: Change:
  5 July 2006 Original ruling  
You are here 20 December 2006 Withdrawn