Taxation Ruling

TR 2011/2W

Income tax: effective life of depreciating assets (applicable from 1 July 2011)

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This Ruling has been replaced by TR 2012/2
  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

Notice of Withdrawal

Taxation Ruling TR 2011/2 is withdrawn on and from 1 July 2012.

1. Taxation Ruling TR 2011/2 has been replaced by Taxation Ruling TR 2012/2, which applies on and from 1 July 2012. To the extent that the views contained in TR 2011/2 still apply, they have been incorporated into TR 2012/2.

2. The Commissioner's determination of the effective life of depreciating assets has been amended with effect from 1 July 2012. 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 2011/2), you should continue to use that life for that asset.

Commissioner of Taxation
27 June 2012

References

ATO references:
NO 1-3TUFDRU

Related Rulings/Determinations:

IT 2685
TR 2000/18
TR 2006/5
TR 2006/15
TR 2007/3
TR 2008/4
TR 2009/4
TR 2010/2

Subject References:
Commissioner's determination of effective life
Commissioner's effective life schedule
decline in value
depreciating assets
depreciation
depreciation rates
effective life
self assessment of effective life

Legislative References:
ITAA 1997
ITAA 1997 Div 40
ITAA 1997 40-70(1)
ITAA 1997 40-72(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 Subdiv 40-B
ITAA 1997 Subdiv 40-E
ITAA 1997 Subdiv 40-F
ITAA 1997 Subdiv 40-G
ITAA 1997 40-520
ITAA 1997 40-555(1)
ITAA 1997 Subdiv 42-M
ITAA 1997 Div 43
ITAA 1997 Subdiv 328-D
TAA 1953
Tax Laws Amendment (Improvements to Self Assessment) Act (No. 2) 2005