Taxation Ruling
TR 2014/4
TR 2014/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2014)
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Please note that the PDF version is the authorised consolidated version of this ruling and amending notices.This Ruling, which applies from 1 July 2014, replaces TR 2013/4 (see paragraph 5 of this Ruling for further details).This document has changed over time. View its history.
TR 2014/4 - Effective lives (Industry Categories)
Table A as at 1 July 2014 - ARTS AND RECREATION SERVICES
|
ARTS AND RECREATION SERVICES
( 89100 to 92099 ) |
|||
|
Heritage activities
( 89100 to 89220 ) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Museum displays in aircraft/war museums | 100 | 1 Jan 2001 | |
| Parks and gardens: | |||
| Lion park: | |||
| Animal cages and sheds | 20 | 1 Jan 2001 | |
| Animal huts | 10 | 1 Jan 2001 | |
| Planetarium dome | 33 ⅓ | 1 Jan 2001 | |
| Sea life centre: | |||
| Fibreglass aquarium tanks | 20 | 1 Jan 2001 | |
| Ketch | 13 ⅓ | 1 Jan 2001 | |
| TV audio system | 10 | 1 Jan 2001 | |
|
Creative and performing arts activities
( 90010 to 90030 ) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Theatre equipment: | |||
| Accessories (theatrical wigs, costumes, etc) | 5 | 1 Jan 2001 | |
|
Health and fitness centres and gymnasia operations
(91110) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Health and fitness centre operation assets: | |||
| Cardiovascular training machines: | |||
| Cross trainers, steppers and treadmills | 4 | * | 1 Jul 2012 |
| Exercise bicycles (including spin bicycles, upright and recumbent bicycles) | 4 | * | 1 Jul 2012 |
| Rowing machines | 5 | * | 1 Jul 2012 |
| Free weight training assets: | |||
| Barbells, dumbbells, kettle bells, weight plates and storage racks | 6 | * | 1 Jul 2012 |
| Benches (including abdominal crunch, adjustable, declined, inclined and flat benches) | 8 | * | 1 Jul 2012 |
| Resistance training machines (including abdomen, arm, back, chest, hip, leg, shoulder and multiple training machines) | 8 | * | 1 Jul 2012 |
| Support Assets: | |||
| Audio visual entertainment assets (including amplifiers, audio speakers, digital disc players and televisions) | 4 | * | 1 Jul 2012 |
| Fans (including wall mounted) | 5 | * | 1 Jul 2012 |
| Lockers | 8 | * | 1 Jul 2012 |
| Platform scales | 5 | * | 1 Jul 2012 |
|
Sport and recreation services
(91121 to 91390) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Amusement machines and equipment: | |||
| 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 | 3 ½ | * | 1 Jul 2001 |
| Interchangeable video game kit | 1 | * | 1 Jul 2001 |
| Juke box (compact disc) | 10 | * | 1 Jul 2001 |
| Photo-image machines | 3 ½ | * | 1 Jul 2001 |
| Pinball machines | 3 ½ | * | 1 Jul 2001 |
| Pool/billiard tables | 10 | * | 1 Jul 2001 |
| Redemption games (prizes/tickets) | 5 ½ | * | 1 Jul 2001 |
| Table games (including air hockey, soccer etc) | 5 ½ | * | 1 Jul 2001 |
| Billiard tables | 40 | 1 Jan 2001 | |
| Rides and devices (fixed or mobile): | |||
| Chair-o-planes | 15 | * | 1 Jan 2002 |
| Children's indoor soft playgrounds | 5 | * | 1 Jan 2002 |
| Children's rides (designed for the carriage of children less than 8 years old) | 15 | * | 1 Jan 2002 |
| Ferris wheels | 25 | * | 1 Jan 2002 |
| Free falls (including giant drop and tower of terror) | 25 | * | 1 Jan 2002 |
| Inflatables (including jumping castles) | 5 | * | 1 Jan 2002 |
| Overhead transit devices (including chair lifts and cabin lifts) | 25 | * | 1 Jan 2002 |
| Roller coasters: | |||
| Non-powered (including corkscrew loop, looping coasters and mini roller coasters - wild cat, madmouse) | 25 | * | 1 Jan 2002 |
| Powered (including tornado) | 15 | * | 1 Jan 2002 |
| Round rides with or without additional motions (including merry-go-rounds) | 15 | * | 1 Jan 2002 |
| Self-drive non-powered gravity rides (including toboggans and bob-sleds): | |||
| Track | 20 | * | 1 Jan 2002 |
| Vehicle | 5 | * | 1 Jan 2002 |
| Self-drive powered rides (including dodgems and go-karts): | |||
| Track | 15 | * | 1 Jan 2002 |
| Vehicle | 5 | * | 1 Jan 2002 |
| Simulators | 10 | * | 1 Jan 2002 |
| Swinging rides (including pirate ship, spaceloop, and rainbow) | 15 | * | 1 Jan 2002 |
| Trains, tracked or trackless (including tractor trains and miniature railways) | 10 | * | 1 Jan 2002 |
| Water rides | 20 | * | 1 Jan 2002 |
| Water slides 'gravity powered' | 20 | * | 1 Jan 2002 |
| Bowling centres (plant and equipment): | |||
| Bowling alleys (timber - including ball return tracks, gutters, pit signals and terminals) | 13 ⅓ | 1 Jan 2001 | |
| Bowling balls | 5 | 1 Jan 2001 | |
| Carpets | 4 | 1 Jan 2001 | |
| Masking units | 10 | 1 Jan 2001 | |
| Pin setters and pin spotters | 10 | 1 Jan 2001 | |
| Other equipment | 13 ⅓ | 1 Jan 2001 | |
| Golf courses (miniature): | |||
| Lighting plant, electric motors, moving parts | 20 | 1 Jan 2001 | |
| Lighting standards | 40 | 1 Jan 2001 | |
| Carpets on stairways | 3 | 1 Jan 2001 | |
| Marina operation: | |||
| Boat cradles | 10 | * | 1 Jul 2002 |
| Boat storage racks | 10 | * | 1 Jul 2002 |
| Forklifts | 11 | * | 1 Jul 2002 |
| Marina - wet berths (incorporating piling, decking and floating pontoons) | 20 | * | 1 Jul 2002 |
| Mooring buoys | 10 | * | 1 Jul 2002 |
| Travel lifts | 15 | * | 1 Jul 2002 |
| Racehorses | 10 | 1 Jan 2001 | |
| Racing cars | 2 | 1 Jan 2001 | |
| Shuffle boards | 10 | 1 Jan 2001 | |
| Skating rink plant: | |||
| Fittings (open air) | 20 | 1 Jan 2001 | |
| General freezing plant and equipment | 13 ⅓ | 1 Jan 2001 | |
| Hired ice skating boots | 5 | 1 Jan 2001 | |
| Roller skates | 5 | 1 Jan 2001 | |
| Surface (synthetic panels) | 10 | 1 Jan 2001 | |
| Ski equipment (skis, boots and stocks for hiring to public) | 3 | 1 Jan 2001 | |
| Ski maintenance machine | 13 ⅓ | 1 Jan 2001 | |
| Space theatre dome | 33 ⅓ | 1 Jan 2001 | |
| Tennis court surface: | |||
| Bitumen | 20 | 1 Jan 2001 | |
| Plexipave | 20 | 1 Jan 2001 | |
| Synthetic lawn | 10 | 1 Jan 2001 | |
| Trampolines | 10 | 1 Jan 2001 | |
|
Gambling activities
(92010 to 92099) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Poker/gaming machines | 7 | * | 1 Jul 2009 |
| Totalisator: | |||
| Computer equipment | 10 | 1 Jan 2001 | |
| Ancillary equipment (eg ticket issuing machines) | 13 ⅓ | 1 Jan 2001 | |
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
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)
| Date: | Version: | Change: | |
| 25 June 2014 | Original ruling | ||
| You are here | 16 July 2014 | Consolidated ruling | Erratum |
| 6 August 2014 | Consolidated ruling | Addendum |