Taxation Ruling

TR 2014/4A1 - Addendum

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

Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Ruling TR 2014/4 to insert missing entries and words, correct a heading description and remove the incorrect use of an asterisk.

TR 2014/4 is amended as follows:

1. Table A as at 1 July 2014 Effective Lives (Industry Categories)

Under the heading 'Vegetable growing (under cover) (01220)'; Omit:


Hydroponics growers may use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)

Substitute:


Hydroponics growers may also use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)

2. Table A as at 1 July 2014 Effective Lives (Industry Categories)

Omit the heading 'Steel coil roll forming, slitting, blanking and sheet metal forming (22210 to 22290)'; substitute 'Steel coil roll forming, slitting and blanking and sheet metal forming (22210 to 22290)'.

3. Table B as at 1 July 2014 Effective Lives (Asset Categories)

Under the heading P, after 'Platform scales'; Insert:


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

4. Table B as at 1 July 2014 Effective Lives (Asset Categories)

Under the heading T; Omit:


Complete telephone system (comprising switchboards, instruments, cables etc) 20 * 1 Jan 2001

Substitute:


Complete telephone system (comprising switchboards, instruments, cables etc) 20 1 Jan 2001

This Addendum applies on and from 1 July 2014.

Commissioner of Taxation
6 August 2014

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-5EJ20VG

ISSN: 1039-0731