Effective Life 2007/1


Commonwealth of Australia

This Legislative Instrument has been repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013.

Income Tax Assessment Act 1997

I, THOMAS ALFRED MEREDITH, Senior Assistant Commissioner, Office of the Chief Tax Counsel, make this Determination under subsection 40-100(1) of the Income Tax Assessment Act 1997.

1 Name of Determination

This Determination is the Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2007 (No. 1).

2 Commencement

This Determination commences on 1 July 2007.

3 Amendment of Income Tax (Effective Life of Depreciating Assets) Determination 2001

Schedule 1 amends the Income Tax (Effective Life of Depreciating Assets) Determination 2001.

Schedule 1 Amendments

(section 3)

[1] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 )

Before

Environmental control structures (including glasshouses, hothouses, germination rooms, plastic clad tunnels and igloos) 20  *  1 Jul 2006

Insert

All terrain vehicles (ATVs) used in primary production activities 5  *  1 Jul 2007

[2] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 )

After

Environmental control structures (including glasshouses, hothouses, germination rooms, plastic clad tunnels and igloos) 20  *  1 Jul 2006

Insert

Motorcycles used in primary production activities 5  *  1 Jul 2007

[3] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 )

After

Sheds on land that is used for agricultural or pastoral operations (including machinery sheds, workshop sheds, farm production sheds) 40  *  1 Jan 2007

Insert

Tractors 12  *  1 Jul 2007

[4] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 )

Omit

Dairy farm plant (power): 20   1 Jan 2001

[5] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 )

After

Curing barns (tobacco, timber, peanut, corn or grain) 13 ⅓   1 Jan 2001

Insert

Dairy cattle farming assets:      
    Automatic calf feeders 10  *  1 Jul 2007
    Barn fed dairy farms:      
        Bulk and segregated commodity storage facilities (incorporating bunkers) 30  *  1 Jul 2007
        Exercise yards 20  *  1 Jul 2007
        Feeding barns and maternity barns (incorporating cow beds, fans, and feed alleys) 20  *  1 Jul 2007
    Cattle handling assets:      
        Air operated gates 10  *  1 Jul 2007
        All terrain vehicles(ATVs) 3  *  1 Jul 2007
        Automatic drafting systems 7  *  1 Jul 2007
        Automatic ID systems 7  *  1 Jul 2007
        Automatic weighing systems and cattle scales 5  *  1 Jul 2007
        Backing gates 15  *  1 Jul 2007
        Calf cradles 10  *  1 Jul 2007
        Cattle crushes 10  *  1 Jul 2007
        Cattle laneways 30  *  1 Jul 2007
        Cattle yards (including loading ramps) 30  *  1 Jul 2007
        Dairy milking sheds 30  *  1 Jul 2007
        Dairy yards and races 20  *  1 Jul 2007
        Teat spraying systems:      
            Automatic 7  *  1 Jul 2007
            Manual 10  *  1 Jul 2007
    Clean up assets:      
        High pressure pumps and hoses 10  *  1 Jul 2007
        Hot water services 10  *  1 Jul 2007
        Milk line washing systems:      
            Automatic 10  *  1 Jul 2007
            Manual 10  *  1 Jul 2007
    Feed milling and handling assets:      
        Augers 10  *  1 Jul 2007
        Conveyors and elevators 15  *  1 Jul 2007
        Feed pads and bunkers 30  *  1 Jul 2007
        Feeding systems:      
            Automatic 12  *  1 Jul 2007
            Manual 15  *  1 Jul 2007
        Feed mixers 7  *  1 Jul 2007
        Grain mills (including roller mills, disc mills and hammer mills) 15  *  1 Jul 2007
        Manure spreaders 10  *  1 Jul 2007
        Silage pits 40  *  1 Jul 2007
        Silage wagons 10  *  1 Jul 2007
        Silos (steel) 20  *  1 Jul 2007
        Telescopic handlers 10  *  1 Jul 2007
        Tub grinders 7  *  1 Jul 2007
    Milking and milk handling assets:      
        Automatic cluster removers 10  *  1 Jul 2007
        Bailing systems:      
            Herringbone (including swing over, double up and rapid exit) 15  *  1 Jul 2007
            Rotary 15  *  1 Jul 2007
            Walk through 15  *  1 Jul 2007
        Filters 15  *  1 Jul 2007
        Milking systems (incorporating clusters, swing over arms, hoses, pipes, pulsators, vacuum pumps, variable speed control) 15  *  1 Jul 2007
        Milk meters and recording jars (including conductivity sensors) 10  *  1 Jul 2007
        Milk vats 25  *  1 Jul 2007
        Plate coolers 15  *  1 Jul 2007
        Receivers 15  *  1 Jul 2007
        Refrigeration compressors 10  *  1 Jul 2007

[6] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 ), entry relating to Grain cotton, peanut and rice assets : Harvesting assets

After

        Chaser bins 15  *  1 Jan 2007
Insert
        Combine harvesters 12  *  1 Jul 2007
        Cotton picker/strippers 10  *  1 Jul 2007

[7] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 ), entry relating to Grain cotton, peanut and rice assets : Harvesting assets

After

        Peanut diggers (including peanut pullers) 10  *  1 Jan 2007

Insert

        Peanut threshers 12  *  1Jul 2007

[8] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 ), entry relating to Hay and foraging assets

After

    Baler and wrappers 10  *  1 Jan 2007

Insert

    Forage harvesters 10  *  1 Jul 2007

[9] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 )

Omit

Headers, self propelled (combine harvesters) 6 ⅔  *  1 Jan 2001

[10] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), sub-category Agriculture ( 01110 to 01990 )

Omit

Motor cycles (used for mustering, maintenance of fences, etc) 3  *  1 Jan 2001

[11] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), after sub-category Nursery and Floriculture Production ( 01110 to 01150 )

Insert

Hydroponics
( 01220 )
ASSET LIFE (YEARS ) REVIEWED DATE OF APPLICATION
Hanging gutters 10  *  1 Jul 2007
Troughs 10  *  1 Jul 2007
Hydroponics growers may use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)
 
Vegetable and cane growing
( 01230 and 01510 )
ASSET LIFE (YEARS ) REVIEWED DATE OF APPLICATION
Chemical spraying assets:      
    Generally 10  *  1 Jul 2007
    Self-propelled 8  *  1 Jul 2007
Fertilizer spreaders:      
    Generally 10  *  1 Jul 2007
    Spinner 5  *  1 Jul 2007
General assets:      
    Bins:      
        Plastic 10  *  1 Jul 2007
        Timber 5  *  1 Jul 2007
    Mulch layers 12  *  1 Jul 2007
    Mulch lifters 12  *  1 Jul 2007
    Mulchers 8  *  1 Jul 2007
    Rakes (eg cane trash rake) 10  *  1 Jul 2007
    Slashers 8  *  1 Jul 2007
Harvesting assets:      
    Cane haul out bins 12  *  1 Jul 2007
    Harvesters (including cane, carrot, onion, potato and tomato) 10  *  1 Jul 2007
    Harvesting aids (incorporating trailer and conveyor belts) 15  *  1 Jul 2007
    Onion lifters 10  *  1 Jul 2007
    Trailers 15  *  1 Jul 2007
    Windrowers (including potato diggers, onion and potato windrowers) 10  *  1 Jul 2007
Planting assets:      
    Billet planters 12  *  1 Jul 2007
    Potato cutters 15  *  1 Jul 2007
    Potato planters 10  *  1 Jul 2007
    Precision seeders 10  *  1 Jul 2007
    Transplanters:      
        Automated 7  *  1 Jul 2007
        Manual 10  *  1 Jul 2007
Tillage assets:      
    Generally 15  *  1 Jul 2007
    PTO operated (including rotary hoes and power harrows) 8  *  1 Jul 2007
Trellising assets:      
    Stake drivers 12  *  1 Jul 2007
    Stake pullers 12  *  1 Jul 2007
    Trellising (incorporating stakes and wire) 5  *  1 Jul 2007
    Wire winders 15  *  1 Jul 2007
 
Coffee, olive and tree nut growing
( 01370, 01390 and 01590 )
ASSET LIFE (YEARS ) REVIEWED DATE OF APPLICATION
Chemical spraying assets (including air blast sprayers and linkage sprayers) 10  *  1 Jul 2007
Cleaning and mulching assets:      
    Blowers 10  *  1 Jul 2007
    Mowers (including zero turn and ride on) 8  *  1 Jul 2007
    Mulchers 8  *  1 Jul 2007
    Slashers 10  *  1 Jul 2007
    Sweeper attachments 10  *  1 Jul 2007
Fertilizer spreaders 10  *  1 Jul 2007
General assets:      
    Bins:      
        Plastic 10  *  1 Jul 2007
        Timber 5  *  1 Jul 2007
    Stakes (including trellising) 3  *  1 Jul 2007
Harvesting assets:      
    Bankouts (almonds) 15  *  1 Jul 2007
    Catcher nets 10  *  1 Jul 2007
    Elevators (almonds) 12  *  1 Jul 2007
    Harvesters:      
        Coffee 10  *  1 Jul 2007
        Olive 10  *  1 Jul 2007
        Nuts:      
            Generally 10  *  1 Jul 2007
            Macadamia mower mounted 8  *  1 Jul 2007
            Pick ups (eg almonds) 12  *  1 Jul 2007
            Sweepers 12  *  1 Jul 2007
            Tree shakers 10  *  1 Jul 2007
        Reservoir carts (almonds) 15  *  1 Jul 2007
        Harvesting pole rakes 5  *  1 Jul 2007
        Trailers 15  *  1 Jul 2007
Pruning assets:      
    Chain saws 5  *  1 Jul 2007
    Electric hand pruners 3  *  1 Jul 2007
    Manual hand pruners 2  *  1 Jul 2007
    Pneumatic pruners:      
        Compressor 10  *  1 Jul 2007
        Hand tools 5  *  1 Jul 2007

[12] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), after sub-category Forestry and logging ( 03010 to 03020 )

Omit

Aquaculture and fishing
( 02011 to 02039 and 04111 to 04199 )
ASSET LIFE (YEARS ) REVIEWED DATE OF APPLICATION
Fish farming ponds (earth and clay) 20  *  1 Jan 2001
Fishing plant:      
    Boats 13 ⅓  *  1 Jan 2001
    Fish holding baskets 10  *  1 Jan 2001
    Purse seine fishing net 5  *  1 Jan 2001
Pearling and oyster fishing plant:  *   *   * 
    Luggers (oyster fishing) 13 ⅓  * 
    Pearling boats 20  *  1 Jan 2001
    Pumps 13 ⅓  *  1 Jan 2001
Prawn farming ponds and plant 20  *  1 Jan 2001

[13] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), after sub-category Poultry hatcheries ( 01710 to 01720 )

Insert

Aquaculture
( 02011 to 02039 )
ASSET LIFE (YEARS ) REVIEWED DATE OF APPLICATION
Aeration assets:      
    Direct supply systems (including paddlewheels and aspirators):      
        Fresh water 6  *  1 Jul 2007
        Salt water 3  *  1 Jul 2007
    Remote or indirect supply systems (incorporating blowers, diaphragm pumps, diffusers, upwellers and pipelines) 10  *  1 Jul 2007
Aquaculture tanks:      
    Concrete 20  *  1 Jul 2007
    Fibreglass 15  *  1 Jul 2007
    Polyethylene 20  *  1 Jul 2007
    Raceways 20  *  1 Jul 2007
    Transport of live products 10  *  1 Jul 2007
Bins and crates 5  *  1 Jul 2007
Cooling assets (including water chillers) 10  *  1 Jul 2007
Control systems 10  *  1 Jul 2007
Environmental control structures and protective structures used in salt water environment 15  *  1 Jul 2007
Feeders (including belt, pendulum, scatter and blower) 5  *  1 Jul 2007
Graders 10  *  1 Jul 2007
Harvesting nets 4  *  1 Jul 2007
Hatching assets (including hatching containers) 10  *  1 Jul 2007
Heating assets:      
    Direct heating system (including immersion heaters):      
        Fresh water 10  *  1 Jul 2007
        Salt water 5  *  1 Jul 2007
    Indirect heating system (including heat exchangers and passive heating) 10  *  1 Jul 2007
Instruments (including sensors and water quality meters) 5  *  1 Jul 2007
Oyster farming assets:      
    Oyster growing structures (incorporating posts and racks or lines) 10  *  1 Jul 2007
    Baskets 8  *  1 Jul 2007
    Rumblers 10  *  1 Jul 2007
    Sticks 5  *  1 Jul 2007
    Trays:      
        Plastic 8  *  1 Jul 2007
        Timber 5  *  1 Jul 2007
    Vats, treatment 15  *  1 Jul 2007
Pearling and oyster fishing plant:      
    Luggers (oyster fishing) 13 ⅓  *  1 Jan 2001
    Pearling boats 20  *  1 Jan 2001
Power supply assets, emergency or standby:  *   *   * 
    Generators (incorporating attached engine management and generator monitoring instruments) 15  *  1 Jul 2007
Processing assets:      
    Conveyors, elevators and hoppers 10  *  1 Jul 2007
    Cookers 10  *  1 Jul 2007
    Packaging assets (including vacuum and modified atmospheric packing) 10  *  1 Jul 2007
Refrigeration assets:      
    Insulation panels in cool or freezer rooms used in salt water environment 20  *  1 Jul 2007
Sea cages (incorporating rings, nets, ropes, anchors, weights and stanchions) 10  *  1 Jul 2007
Water assets:      
    Aquaculture channels and ponds 20  *  1 Jul 2007
    Liners and erosion matting for ponds and channels 15  *  1 Jul 2007
    Pipes and pipelines:      
        Above ground (polyethylene,    polyvinylchloride including lay flat hoses) 10  *  1 Jul 2007
        In ground (polyethylene and polyvinylchloride) 30  *  1 Jul 2007
    Pumps:      
        Generally:      
            Fresh water 10  *  1 Jul 2007
            Salt water 5  *  1 Jul 2007
        Single phase transfer pumps:      
            Fresh water 5  *  1 Jul 2007
            Salt water 3  *  1 Jul 2007
    Water treatment assets (including filtration assets, foam fractionators, oxygen and ozone generators and UV sterilizers) 10  *  1 Jul 2007
Water transport and ancillary assets:  *   *   * 
    Boats, aluminium 15  *  1 Jul 2007
    Lifting assets 10  *  1 Jul 2007
    Outboard motors 5  *  1 Jul 2007
    Trailers 8  *  1 Jul 2007
Weighing machines 5  *  1 Jul 2007

[14] Table A, industry category AGRICULTURE, FORESTRY and FISHING ( 01110 to 05290 ), after sub-category Forestry and logging ( 03010 to 03020 )

Insert

Fishing
( 04111 to 04199 )
ASSET LIFE (YEARS ) REVIEWED DATE OF APPLICATION
Fishing plant:      
    Boats 13 ⅓  *  1 Jan 2001
    Fish holding baskets 10  *  1 Jan 2001
    Purse seine fishing net 5  *  1 Jan 2001

[15] Table B, items beginning with T

Omit

Tractors 6 ⅔  *  1 Jan 2001

Insert

Tractors 12  *  1 Jul 2007



18 June 2007

THOMAS MEREDITH,
Senior Assistant Commissioner, Office of the Chief Tax Counsel.


Registration Number: F2007L01812

Registration Date: 20 June 2007

Related Explanatory Statements:

Effective Life 2007/1 - Explanatory statement