Effective Life 2001/2


Commonwealth of Australia

Income Tax Assessment Act 1997

I, DEIDRE FAY GERATHY, First Assistant Commissioner, Law Integrity Team, delegate of the Commissioner of Taxation, make this Determination under subsection 42-110(1) of the Income Tax Assessment Act 1997.

1 Name of Determination

This Determination is the Income Tax (Effective Life of Plant) Amendment Determination 2001 (No. 1).

2 Commencement

This Determination commences on 1 July 2001.

3 Amendment of Income Tax (Effective Life of Plant) Determination 2000

Schedule 1 amends the Income Tax (Effective Life of Plant) Determination 2000.

Schedule 1 Amendments

(section 3)

[1] Table A, industry category Agriculture, Forestry and Fishing (01110 to 04203), sub-category Agriculture (01110 to 02200)

omit

Grain (iron) 33⅓ 1 Jan 2001
Other 33⅓ 1 Jan 2001

insert

Grain (metal) 30   1 Jul 2001

[2] Table A, industry category Cultural and Recreational Services (91110 to 93302), sub-category Sport, Gambling and Other Recreation Services (93111 to 93302)

omit

Eight Ball table (coin operated pool tables) 10   1 Jan 2001

insert

Coin-operated amusement machines:      
Children's rides 5 1 Jul 2001
Convertible video game/simulator (cabinet) 5 ½ 1 Jul 2001
Dedicated video game/simulator 1 Jul 2001
Interchangeable video game kit 1 1 Jul 2001
Juke box (compact disc) 10 1 Jul 2001
Photo-image machines 1 Jul 2001
Pinball machines 1 Jul 2001
Pool/Billiard tables 10 1 Jul 2001
Redemption games (prizes/tickets) 1 Jul 2001
Table games (including air hockey, soccer, etc) 1 Jul 2001

[3] Table A, industry category Cultural and Recreational Services (91110 to 93302), sub-category Sport, Gambling and Other Recreation Services (93111 to 93302)

omit

Slot machines 5 1 Jan 2001

[4] Table A, industry category Cultural and Recreation Services (91110 to 93302), sub-category Sport, Gambling and Other Recreation Services (93111 to 93302)

omit

Juke Boxes 10 1 Jan 2001

[5] Table A, industry category Electricity, Gas and Water Supply (36100 to 37020), sub-category Electricity and gas supply (36100 to 36200)

omit

Lightning arresters 50 1 Jan 2001

[6] Table A, industry category Electricity, Gas and Water Supply (36100 to 37020), sub-category Electricity and gas supply (36100 to 36200)

omit

Storage batteries 13⅓ 1 Jan 2001
Switchboards 20 1 Jan 2001

[7] Table A, industry category Mining (11010 to 15200), sub-category Coal Mining and Metal Ore Mining (11010 to 110202) and (13110 to 13190)

after

Mine cars 10 1 Jan 2001

insert

Mudlakes 10 1 Jan 2001

[8] Table A, industry category Mining (11010 to 15200), sub-category Oil and Gas Extraction (12000)

omit

Mudlakes 10 1 Jan 2001

[9] Table A, industry category Personal and Other Services (95110 to 97000)

after

PERSONAL AND OTHER SERVICES (95110 to 97000)

insert

Personal and other goods hiring (95110 to 95190)
Generally:
If the asset is hired and used predominantly by a particular industry, see the entry in Table A for that industry. Otherwise, see Table B. 1 Jul 2001
Other personal services (95710 to 95291)

[10] Table A, industry category Property and Business Services (77110 to 78690)

after

PROPERTY AND BUSINESS SERVICES (77110 to 78690)

insert

Machinery and Equipment Hiring and Leasing (77410 to 77430)
Generally:
If the asset is hired, or leased to, and used predominantly by a particular industry, see the entry in Table A for that industry. Otherwise, see Table B. 1 Jul 2001
Technical Services (78210 to 78290)

[11] Table B, items beginning with A

after

Art Works 100 1 Jan 2001

insert

Automatic Teller Machine 8 1 Jul 2001

[12] Table B, items beginning with B

after

B

insert

Batteries (Storage) 13⅓ 1 Jan 2001

[13] Table B, items beginning with G

omit

Generators (steam, electric) 20 1 Jan 2001

insert

Generators 20 1 Jan 2001

[14] Table B, items beginning with L

after

Lighting System (fluorescent) 20 1 Jan 2001

insert

Lightning arresters 50 1 Jan 2001

[15] Table B, items beginning with S

after

Other equipment 13⅓ 1 Jan 2001

insert

Switchboards 20 1 Jan 2001

[16] Table B, items beginning with T

omit

Traction Engines (oil or wood fuel) 10 1 Jan 2001

[17] Table B, items beginning with V

omit

Video:
Game machines 5 1 Jan 2001
Video juke boxes 6⅔ 1 Jan 2001
Other 10 1 Jan 2001

insert

Vending Machine 5 1 Jul 2001



1 July 2001

DEIDRE FAY GERATHY,
First Assistant Commissioner,
Law Integrity Team,
Delegate of the Commissioner of Taxation,
First Assistant Commissioner, Law Integrity Team