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Taxation Ruling

TR 2014/4

TR 2014/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2014)

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    This Ruling, which applies from 1 July 2014, replaces TR 2013/4 (see paragraph 5 of this Ruling for further details).
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TR 2014/4 - Effective lives (Asset Categories)
Table B as at 1 July 2014

 
A
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Advertising Signs:
        Billboards (hoarding) 20 1   Jan   2001
        Roller board (moving surface) 6   ⅔ 1   Jan   2001
        Solar powered (real estate signs) 13   ⅓ 1   Jan   2001
Air compression assets:      
        Air compression assets generally (including air compressors, air dryers and air receivers) 20   *   1   Jul   2014
        Air compressors (portable):      
                Compressors - reciprocating 7   *   1   Jul   2014
                Compressors - rotary screw 10   *   1   Jul   2014
Air-conditioning assets (excluding pipes, duct work and vents):
        Air handling units 20   *   1   Jul   2003
        Cooling towers 15   *   1   Jul   2003
        Condensing sets 15   *   1   Jul   2003
        Chillers:
                Absorption 25   *   1   Jul   2003
                Centrifugal 20   *   1   Jul   2003
                Volumetrics (including reciprocating, rotary, screw, scroll):
                        Air-cooled 15   *   1   Jul   2003
                        Water-cooled 20   *   1   Jul   2003
        Damper motors (including variable air volume box controller) 10   *   1   Jul   2003
        Fan coil units (connected to a condensing set) 15   *   1   Jul   2003
        Humidifiers (steam generator) 10   *   1   Jul   2003
        Mini split system up to 20KW (including ceiling, floor and high wall split system) 10   *   1   Jul   2003
        Packaged air conditioning units 15   *   1   Jul   2003
        Pumps 20   *   1   Jul   2003
        Room units 10   *   1   Jul   2003
Aircraft:
        Aeroplane:      
                General use [23] 20   *#   1   Jul   2002
                Used predominantly for agricultural spraying or agricultural dusting [24] 10   *#   1   Jul   2002
        Helicopters:      
                General use [25] 20   *#   1   Jul   2002
                Used predominantly for agricultural spraying or agricultural dusting [26] 10   *#   1   Jul   2002
Airless sprayers (used in painting, epoxy and polyurethane coating, priming etc):      
        Electrically and petrol-driven units 7   *   1   Jul   2013
        Pneumatically-driven units 15   *   1   Jul   2013
Artworks qualifying as depreciating assets (restricted to works of art and reproductions of artwork that are tangible in nature, such as paintings, sculptures, drawings, engravings and photographs, that are displayed in open viewing areas in premises used for taxable purposes including reception areas, waiting rooms and foyers) 100   1   Jul   2013
Automatic Teller Machine 8   *   1   Jul   2001
 
B
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Bending machines (bar, angle and rod) 10   *   1   Jul   2008
Block and brick elevators, portable 10   *   1   Jul   2008
Boilers 20   *   1   Jul   2005
Boom gates:      
        Electromechanically operated boom gates 7   *   1   Jul   2013
        Hydraulically operated boom gates 10   *   1   Jul   2013
Building maintenance units 35   *   1   Jul   2005
Buildings:
        To the extent that they form an integral part of plant and machinery:
                Brick, stone or concrete structures 100 1   Jan   2001
                Gantries 33   ⅓ 1   Jan   2001
                Other structures 33   ⅓ 1   Jan   2001
        Freezing Works: 1   Jan   2001
                Brick, stone or concrete structure 100 1   Jan   2001
                Wholly wooden structure 20 1   Jan   2001
        Primary Production, Forestry and Pearling Industries:
                Non-residential:
                        With brick, stone or concrete walls 50 1   Jan   2001
                        With wood and/or iron walls 33 1   Jan   2001
 
C
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Caravans:
        Generally 6   ⅔ 1   Jan   2001
        Used only within the confines of a caravan park 10 1   Jan   2001
Car Parking (hydraulic elevated platforms and hoists including control equipment) 10 1   Jan   2001
Compaction:      
        Compactors - flat plate 8   *   1   Jul   2008
        Compactors - vertical rammer 6   *   1   Jul   2008
Computers:      
        Generally 4   *   1   Jan   2001
        Laptops 3   *   1   Jan   2001
        Raised access floors in computer data rooms and server rooms 40   *   1   Jul   2014
Concrete truck mixers (incorporating barrel, chutes, frame and hydraulic pumps) 5   *   1   Jul   2014
Concreting assets:      
        Brick and paving saws 5   *   1   Jul   2008
        Concrete demolition saws 3   *   1   Jul   2008
        Concrete kibble buckets 15   *   1   Jul   2008
        Concrete mixers 4   *   1   Jul   2008
        Concrete surface preparation assets (including floor grinders, planers and scarifers) 5   *   1   Jul   2008
        Concrete trowels:      
                Walk behind 5   *   1   Jul   2008
                Ride on 7   *   1   Jul   2008
        Concrete vibrating screeders 5   *   1   Jul   2008
        Concrete vibrators:      
                Brushcutter style 5   *   1   Jul   2008
                Drive units 6   *   1   Jul   2008
                Flexible shaft pumps 6   *   1   Jul   2008
                Vibrating shafts 3   *   1   Jul   2008
        Concrete wheeled saws 6   *   1   Jul   2008
Cranes (gantry and overhead) 25   *   1   Jul   2014
 
Curtains and Drapes 6   *   1   Jul   2004
 
D
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Door control and motor drive system for automatic sliding doors (incorporating chains, controls, motors and sensors, excluding doors) 15   *   1   Jul   2005
Dozers/Front End Loaders 9   *   1   Jul   2002
Drink dispensing machines 10   *   1   Jul   2005
 
E
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Elevated work platforms:      
        Boom (including knuckle and telescopic) 15   *   1   Jan   2006
        Personal 10   *   1   Jan   2006
        Scissor 10   *   1   Jan   2006
Employee time and attendance recorders (including bundy clocks, time clocks etc):      
        Computerised time and attendance recorders (including fingerprint and face recognition systems and swipe card digital time clock systems) 10   *   1   Jul   2013
        Standalone electronic time and attendance recorders (card based etc) 10   *   1   Jul   2013
Escalators (machinery and their moving parts) 20   *   1   Jan   2003
 
F
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Fences:
        Portable electric fences 20   *   1   Jul   2014
        Wire mesh (demountable used for partitioning purposes, including portable electric fences) 20   *   1   Jul   2014
Fire control and alarm assets:                  
        Alarms:                  
                Heat 6   *   1   Jul   2004
                Smoke 6   *   1   Jul   2004
        Detection and alarm systems:                  
                Alarm bells 12   *   1   Jul   2004
                Detectors:                  
                        Aspirated smoke 12   *   1   Jul   2004
                        Heat 20   *   1   Jul   2004
                        Manual call point (addressable type only) 20   *   1   Jul   2004
                        Multi type 20   *   1   Jul   2004
                        Smoke 20   *   1   Jul   2004
                Fire indicator panels 12   *   1   Jul   2004
                Gas suppression cylinders 25   *   1   Jul   2004
        Emergency warning and intercommunication systems:                  
                Master emergency control panels 12   *   1   Jul   2004
                Speakers 12   *   1   Jul   2004
                Strobe lights 12   *   1   Jul   2004
                Warden intercom phones 12   *   1   Jul   2004
        Extinguishers 15   *   1   Jul   2004
        Hoses and nozzles 10   *   1   Jul   2004
        Pumps (including diesel and electric) 25   *   1   Jul   2004
        Stair pressurisation assets:                  
                A C variable speed drive 10   *   1   Jul   2004
                Pressurisation and extraction fans 25   *   1   Jul   2004
                Sensors 10   *   1   Jul   2004
Floor coverings - linoleum and vinyl (removable without damage) 10   *   1   Jul   2013
Fogging machines (insecticide), including cold foggers and thermal foggers:      
        Portable 6   *   1   Jul   2013
        Vehicle mounted 10   *   1   Jul   2013
Forklifts 11   *   1   Jul   2002
Forklift battery chargers 11   *   1   Jul   2013
Formwork, beams and props, steel 10   *   1   Jul   2008
Foundations for plant and machinery (integral to the operation of such plant and machinery, but not incorporated into the plant and machinery itself) 40   *   1   Jul   2014
 
G
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Generators (see in Table B, Power supply assets)      
 
H
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Hand dryers (electrical) 10   *   1   Jul   2013
Hand tools (manually operated) 10   *   1   Jul   2014
 
J
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Judges' robes:      
        Ceremonial robes 15   *   1   Jul   2013
        Working robes 10   *   1   Jul   2013
 
 
L
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Laboratory assets used in quality control, sample checking etc:      
        Automated and electronically based laboratory assets (including analysers, refractometers, spectrometry machines etc) 7   *   1   Jul   2014
        Other laboratory assets (including autoclaves, centrifuges, microscopes, ovens etc) 10   *   1   Jul   2014
Ladders (including stepladders, work platforms extension ladders, trestles and planks):      
        Aluminium 4   *   1   Jan   2006
        Fibreglass 4   *   1   Jan   2006
Laser cutting machines 10   *   1   Jul   2014
Levels:      
        Dumpy 7   *   1   Jul   2008
        Laser beam 10   *   1   Jul   2008
Lift slab assets (incorporating spreader bars, clutches, pulleys and cables) 5   *   1   Jul   2008
Libraries (professional) 10   *   1   Jul   2014
Lifts (elevated work platforms):      
        Boom (including knuckle and telescopic) 15   *   1   Jan   2006
        Personal 10   *   1   Jan   2006
        Scissor 10   *   1   Jan   2006
Lifts (including dumbwaiters, hydraulic lifts and traction lifts) 30   *   1   Jan   2003
Lighting control systems (microprocessor based) 5   *   1   Jul   2014
Livestock being working beasts and beasts of burden (including camels and horses) used in a business other than primary production 15   *   1   Jul   2014
Loading bay assets:  
        Dock levellers 20   *   1   Jul   2005
        Pallet jacks and pallet trucks 10   *   1   Jul   2005
        Scissor lifts 15   *   1   Jul   2005
 
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, etc:      
        Buses having a gross vehicle mass of more than 3.5 tonnes [27] 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 and travellers' cars 5   1   Jan   2001
                Taxis 4   1   Jan   2001
        Garbage compactor trucks - see Table A Waste disposal 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 [28] 12   *#   1   Jan   2005
        Minibuses having a gross vehicle mass of 3.5 tonnes or less and designed to carry 9 or more passengers [29] 12   *#   1   Jan   2005
        Motor cycles and scooters 6 ⅔   1   Jan   2001
        Trailers having a gross vehicle mass greater than 4.5 tonnes [30] 15   *#   1   Jan   2005
        Trailers having a gross vehicle mass of 4.5 tonnes or less 10   1   Jan   2005
        Trucks having a gross vehicle mass greater than 3.5 tonnes (excluding off highway trucks used in mining operations) [31] 15   *#   1   Jan   2005
Moving walks 20   *   1   Jan   2003
Musical Instruments, etc:
        Associated portable equipment (including amplifiers, microphones, speakers, mixers and music stands) 6   ⅔   *   1   Jan   2001
        Brass 10   *   1   Jan   2001
        Keyboard (Acoustic) 10   *   1   Jan   2001
        Keyboard (Electric) 5   *   1   Jan   2001
        Percussion 5   *   1   Jan   2001
        Stringed 10   *   1   Jan   2001
        Woodwind 10   *   1   Jan   2001
 
O
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Office furniture, freestanding:      
        Bookcases:      
                Timber 15   *   1   Jul   2005
                Metal 20   *   1   Jul   2005
        Cabinets (including credenzas, cupboards, filing, mapping, mobile, stationery and storage type):      
                Timber/laminated 15   *   1   Jul   2005
                Metal 20   *   1   Jul   2005
        Chairs 10   *   1   Jul   2005
        Desks 20   *   1   Jul   2005
        Mobile storage units (compactus type) 25   *   1   Jul   2005
        Reception assets (including lobby chairs, desks, lounges, sofas and tables) 10   *   1   Jul   2005
        Screens 20   *   1   Jul   2005
        Tables:      
                Boardroom 20   *   1   Jul   2005
                General 10   *   1   Jul   2005
        Workstations (including desks and partitions) 20   *   1   Jul   2005
Office Machines and Equipment:
        Electronic whiteboard 6   *   1   Jan   2001
        Enveloping machine 6   *   1   Jan   2001
        Facsimile machine 5   *   1   Jan   2001
        Letter folding and inserting machines (including envelope inserters and letter inserters - desktop/low volume units) 5   *   1   Jul   2013
        Mailing machine 5   *   1   Jan   2001
        Multi function machine (includes fax, copy, print and scan function) 5   *   1   Jan   2001
        Photo copying machines 5   *   1   Jan   2001
        Projectors (including lenses) 5   *   1   Jul   2014
        Shredders 15   *   1   Jul   2005
        Trolleys 15   *   1   Jul   2005
        Whiteboards 10   *   1   Jul   2005
 
P
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Packaging machines:      
        Bagging machines (including flow wrappers, form fill and seal machines, and roll wrapping machines) 10   *   1   Jul   2009
        Carton erecting, packing and closing machines (including cartoners) 10   *   1   Jul   2009
        Case erecting, packing and closing machines (including casepackers) 10   *   1   Jul   2009
        Inspection equipment including checkweighers, metal detectors, counting machines etc 10   *   1   Jul   2009
        Multihead and singlehead weighers 10   *   1   Jul   2009
        Palletisers and depalletisers 12   *   1   Jul   2009
        Product identification labellers including decorating, applicators and coding machines 8   *   1   Jul   2009
        Robotic pick and place packaging machines 10   *   1   Jul   2009
        Wrapping machines including shrink wrappers, stretch wrappers and strapping machines 10   *   1   Jul   2009
Partitions (demountable) 20   *   1   Jul   2005
Platform scales 15   *   1   Jul   2014
Plumbing fixtures and fittings (including wall and floor tiles) provided mainly for employees and/or children of employees of an entity carrying on a business for the purpose of producing assessable income 20   1   Jan   2001
Pneumatic air tube systems 10   *   1   Jul   2013
Point of sale assets:      
        Cash registers, standalone type 10   *   1   Jul   2005
        Cash transfer system assets, pneumatic type (including printer circuit board, transfer pipes and turbines) 10   *   1   Jul   2005
        Generally (including barcode scanners, cash drawers, dedicated computers, electronic funds transfer point of sale (EFTPOS) machines, keyboards, monitors, printers and terminals) 6   *   1   Jul   2005
        Weighing machines and scales (including weigh labelling machines) 10   *   1   Jul   2005
Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (eg construction sites) 15   *   1   Jul   2014
Powder coating machines and systems (automatic and manual) 10   *   1   Jul   2014
Power supply assets:      
        Emergency or standby:      
                Generator assets:      
                        Acoustic hoods and canopies 20   *   1   Jul   2005
                        Generators (incorporating attached engine management and generator monitoring instruments) 25   *   1   Jul   2005
                        Power management units 15   *   1   Jul   2005
                Uninterruptible power supply (UPS) systems 15   *   1   Jul   2013
        Generators, portable (incorporating attached engine management and generator monitoring instruments):      
                Diesel 10   *   1   Jul   2008
                Petrol 5   *   1   Jul   2008
        Private electricity line assets (where used for a specified purpose [32] ):      
                Distribution lines:      
                        Combination of overhead and underground 47 ½   *   1   Jul   2014
                        Overhead (incorporating poles - concrete, wood, steel or stobie - and electrical equipment the responsibility of the private landholder such as conductors; cross arms etc) 45   *   1   Jul   2014
                        Underground (incorporating cables, fittings and ground pad mounted transformers) 50   *   1   Jul   2014
                Service cables, overhead 40   *   1   Jul   2014
                Service cables, underground 50   *   1   Jul   2014
        Storage batteries 15   *   1   Jul   2013
Power tools:      
        Chain saws 3   *   1   Jul   2008
        Hand tools:      
                Air 5   *   1   Jul   2008
                Battery 3   *   1   Jul   2008
                Electric 5   *   1   Jul   2008
        Jack hammers:      
                Air 7   *   1   Jul   2008
                Electric 3   *   1   Jul   2008
        Nail guns - air 3   *   1   Jul   2008
Power transformers 45   *   1   Jan   2002
Public address and paging system assets (including amplifiers, audio speakers and microphones) 12   *   1   Jul   2005
 
R
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Refrigeration assets:      
        Compressors, condensers, evaporators etc 15   *   1   Jul   2014
        Insulation panels used in cool or freezer rooms 40   *   1   Jul   2014
Robots (industrial) 10   *   1   Jul   2014
 
S
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Saws, bench and mitre, portable 7   *   1   Jul   2008
Scaffolding:      
        Aluminium 5   *   1   Jan   2006
        Fibreglass 5   *   1   Jan   2006
        Steel 15   *   1   Jan   2006
Security and monitoring assets:      
        Access control systems:      
                Code pads 5   *   1   Jul   2004
                Door controllers 5   *   1   Jul   2004
                Readers:      
                        Proximity 7   *   1   Jul   2004
                        Swipe card 3   *   1   Jul   2004
        Ballistic and blast resistant screens and barriers (including fixed and rising types) not forming part of the building 20   *   1   Jul   2014
        Closed circuit television systems:      
                Cameras 4   *   1   Jul   2004
                Monitors 4   *   1   Jul   2004
                Recorders:      
                        Digital 4   *   1   Jul   2004
                        Time lapse 2   *   1   Jul   2004
                Switching units (including multiplexers) 5   *   1   Jul   2004
        Security systems:      
                Code pads 5   *   1   Jul   2004
                Control panels 5   *   1   Jul   2004
                Detectors (including glass, passive infra-red and vibration) 5   *   1   Jul   2004
                Global system for mobiles (GSM) unit 5   *   1   Jul   2004
                Noise maker (including alarms and bells) 5   *   1   Jul   2004
Sewing machines 10   *   1   Jan   2014
Signage for business identification (including lighting for signs) 10   *   1   Jul   2005
Silos:      
        Bulk handling:      
                Ancillary mechanical assets (including augers, bucket elevators, conveyors etc) 15   *   1   Jul   2014
                Concrete construction 50   *   1   Jan   2004
                Galvanised construction 30   *   1   Jan   2004
                Steel construction 40   *   1   Jan   2004
Solar photovoltaic electricity generation system assets 20   *   1   Jul   2011
Spas used as plant in a business (incorporating blowers, controls, filters, heaters and pumps) 17   *   1   Jul   2014
Spray booths 15   *   1   Jul   2014
Stacks (chimney stacks, exhaust stacks, flues etc):      
        Concrete stacks (including concrete reinforced stacks) 30   *   1   Jul   2014
        Flare stacks 25   *   1   Jul   2014
        Reinforced plastic stacks 25   *   1   Jul   2014
        Steel stacks (steel flues) 20   *   1   Jul   2014
Suitcases 10   *   1   Jul   2013
Swimming pool assets:      
        Chlorinators 12   *   1   Jul   2004
        Cleaning assets 7   *   1   Jul   2004
        Filtration assets (including pumps) 12   *   1   Jul   2004
        Heaters:      
                Electric 15   *   1   Jul   2004
                Gas 15   *   1   Jul   2004
                Solar 20   *   1   Jul   2004
        Swimming pools (used as plant in a business):      
                Above-ground 10   *   1   Jul   2005
                Concrete 50   *   1   Jul   2005
                Fibreglass 20   *   1   Jul   2005
Switchboards 20   *   1   Jul   2014
Synthetic lawn surface 5   *   1   Jul   2014
 
T
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Tarpaulins 5   *   1   Jul   2014
Telephone Installations:      
        Complete telephone system (comprising switchboards, instruments, cables etc) 20   1   Jan   2001
        Mobile phones 3   *   1   Jul   2014
        PABX computerised assets 10   *   1   Jan   2005
        Telephone hand sets 10   *   1   Jul   2005
Television sets 10   *   1   Jul   2014
Total stations (used in mapping and surveying etc) 5   *   1   Jul   2013
Tractors 12   *   1   Jul   2007
Two-way radios:      
        Base stations 6   *   1   Jul   2014
        Mobile units 6   *   1   Jul   2014
        Portable units 3   *   1   Jul   2014
        Repeaters 7   *   1   Jul   2014
  *  
V
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Vending Machine 5   *   1   Jul   2001
Ventilation fans (excluding ducting, piping and vents) 20   *   1   Jan   2005
  *  
W
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Warehouse and distribution centre equipment and machines:
        Automated storage and retrieval machines 20   *   1   Jul   2011
        Balers 15   *   1   Jul   2011
        Battery assets for warehouse vehicles (including         pallet trucks and forklifts):
                Batteries (detachable for recharging) 5   *   1   Jul   2011
                Battery chargers:
                        Forklifts 11   *   1   Jul   2011
                        Other 10   *   1   Jul   2011
                Handling assets:
                        Battery tuggers 10   *   1   Jul   2011
                        Racking roller beds 15   *   1   Jul   2011
                        Transfer carts 10   *   1   Jul   2011
                        Washers 10   *   1   Jul   2011
        Carts/buggies 15   *   1   Jul   2011
        Conveyors 15   *   1   Jul   2011
        Door control and motor drive systems (incorporating chains, controls, motor and sensors), excluding doors:
                External 20   *   1   Jul   2011
                Internal 10   *   1   Jul   2011
        Floor sweepers/scrubbers 10   *   1   Jul   2011
        Forklift attachments:
                Cages 10   *   1   Jul   2011
                Push pull units 11   *   1   Jul   2011
        Inflatable dock bags/seals/shelters 10   *   1   Jul   2011
        Pallet assets:
                Dispensers 15   *   1   Jul   2011
                Lift tables 10   *   1   Jul   2011
        Racks 20   *   1   Jul   2011
        Radio frequency terminal assets:
                Barcode readers/scanners 5   *   1   Jul   2011
                Portable/handheld and vehicle mounted terminal devices 4   *   1   Jul   2011
        Roll cages 10   *   1   Jul   2011
        Trolleys 10   *   1   Jul   2011
        Voice picking assets:
                Battery chargers 4   *   1   Jul   2011
                Headsets 4   *   1   Jul   2011
                Terminals (on person) 4   *   1   Jul   2011
        Waste compactors (used for cardboard and plastic):
                Electric 15   *   1   Jul   2011
                Hydraulic 20   *   1   Jul   2011
Waste Storage and Disposal Bins (industrial) 10 1   Jan   2001
Weighbridges 20   *   1   Jul   2014
Welders:      
        Diesel 10   *   1   Jul   2008
        Electric 5   *   1   Jul   2008
        Oxygen welders and cutters 10   *   1   Jul   2014
 

Footnotes

All legislative references are to the ITAA 1997 unless otherwise indicated.

In some circumstances, the effective life of an asset is not relevant in determining the deduction available under Division 40 for decline in value of the asset. Examples include allocating assets to a pool or where an immediate deduction is available.

A specified purpose is a taxable purpose, the purpose of producing exempt income or non-assessable non-exempt income, or the purpose of conducting R & D activities (assuming that this is reasonably likely).

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available for harvesters listed in this sub-category (assets marked with #) - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available - see subsection 40-102(5)

A capped effective life of 6 ⅔ years is available where applicable (assets marked with #) - see subsection 40-102(5)

Defined as water containing in excess of 10 parts of salt per 1,000 parts of water.

A capped effective life of 15 years is available where applicable (assets marked with #) - see subsection 40-102(5)

A capped effective life of 15 years is available for assets marked with #, except offshore platforms - see subsection 40-102(5)

A capped effective life of 20 years is available - see subsection 40-102(5)

A capped effective life of 15 years is available where applicable (assets marked with #) - see subsection 40-102(5)

A capped effective life of 20 years is available where applicable (assets marked with #) - see subsection 40-102(5)

A capped effective life of 20 years is available where applicable (assets marked with #) - see subsection 40-102(5)

A capped effective life of 7 ½ years may be available - see subsection 40-102(4)

A capped effective life of 7 ½ years may be available - see subsection 40-102(4)

A capped effective life of 10 years is available - see subsection 40-102(4)

A capped effective life of 8 years is available - see subsection 40-102(4)

A capped effective life of 10 years is available - see subsection 40-102(4)

A capped effective life of 8 years is available - see subsection 40-102(4)

A capped effective life of 7 ½ years is available - see subsection 40-102(4)

A capped effective life of 7 ½ years is available - see subsection 40-102(4)

A capped effective life of 7 ½ years is available - see subsection 40-102(4)

A capped effective life of 10 years is available - see subsection 40-102(4)

A capped effective life of 7 ½ years is available - see subsection 40-102(4)

A specified purpose is a taxable purpose, the purpose of producing exempt income or non-assessable non-exempt income, or the purpose of conducting R & D activities (assuming that this is reasonably likely)

Not issued as a draft

References

ATO references:
NO 99/132027; 2000/20567; 2003/11601; 2004/17815; 2005/6504; 2005/18073; 2006/25212; 2007/7796; 2008/9394; 2009/5704; 1-20KCCA6; 1-2Z8ZAX4; 1-3VCCZ0O; 1-4NMTK3G; 1-5EJ20VG

ISSN: 1039-0731

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
TR 2011/2
TR 2012/2
TR 2013/4

Subject References:
capped lives
determination of effective life
decline in value
depreciating assets
effective life
effective life determination

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(5)
ITAA 1997 40-100(6)(b)
ITAA 1997 40-102(4)
ITAA 1997 40-102(4A)
ITAA 1997 40-105
ITAA 1997 40-110
TAA 1953

Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2014 (No. 1)

TR 2014/4 history
  Date: Version: Change:
  25 June 2014 Original ruling  
  16 July 2014 Consolidated ruling Erratum
You are here 6 August 2014 Consolidated ruling Addendum

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