Taxation Ruling

TR 2018/4

Income tax: effective life of depreciating assets (applicable from 1 July 2018)

  • Please note that the PDF version is the authorised version of this ruling.
    This document has been Withdrawn.
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    This Ruling, which applies from 1 July 2018, replaces TR 2017/2 (see paragraph 5 of this Ruling for further details).
    This Ruling has been replaced by TR 2019/5 .

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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
Laser cutting machines 10     *     1 Jul 2014
Levels:
    Automatic optical levels (dumpy levels) 7     *     1 Jul 2015
    Laser levels:
        Grade laying (dial-in grade) 6     *     1 Jul 2015
        Laser plummets 5     *     1 Jul 2015
        Line and plumb/point and cross line 4     *     1 Jul 2015
        Pipe laying 6     *     1 Jul 2015
        Rotating 6     *     1 Jul 2015
        Tunnelling and plumbing 6     *     1 Jul 2015
Libraries (professional) 10     *     1 Jul 2014
Lift slab assets (incorporating spreader bars, clutches, pulleys and cables) 5     *     1 Jul 2008
Lifts (including dumbwaiters, hydraulic lifts and traction lifts) 30     *     1 Jan 2003
Light fittings and freestanding lights (excluding hardwired light fittings) 10     *     1 Jul 2016
Light shades (removable) 5     *     1 Jul 2016
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


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