Taxation Ruling

TR 2019/5W

Income tax: effective life of depreciating assets (applicable from 1 July 2019)

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This Ruling has been replaced by TR 2020/3

Notice of Withdrawal

Taxation Ruling TR 2019/5 is withdrawn with effect from 1 July 2020.

1. TR 2019/5 discusses the methodology used by the Commissioner of Taxation in making a determination of the effective life of depreciating assets under section 40-100 of the Income Tax Assessment Act 1997.

2. TR 2019/5 has been replaced by Taxation Ruling TR 2020/3 Income tax: effective life of depreciating assets (applicable from 1 July 2020), which applies from 1 July 2020. To the extent that the views contained in TR 2019/5 still apply, they have been incorporated into TR 2020/3.

3. The Commissioner has made a new determination of the effective life of certain depreciating assets which takes effect from 1 July 2020. This determination has been incorporated into Tables A and B in the Schedule to TR 2020/3.

Commissioner of Taxation
24 June 2020

© 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).

TR 2019/5 history

Not issued as a draft

References

ATO references:
NO L24N0H0

Related Rulings/Determinations:

TR 2012/2
TR 2013/4
TR 2014/4
TR 2015/2
TR 2016/1
TR 2017/2
TR 2019/5

Business Line:  PGI

Legislative References:
ITAA 1997
ITAA 1997 Div 40
ITAA 1997 40-25
ITAA 1997 40-70(1)
ITAA 1997 40-72(1)
ITAA 1997 40-75(1)
ITAA 1997 40-95
ITAA 1997 40-95(4)
ITAA 1997 40-95(5)
ITAA 1997 40-95(7)
ITAA 1997 40-100
ITAA 1997 40-100(5)
ITAA 1997 40-100(6)(b)
ITAA 1997 40-102
ITAA 1997 40-102(4)
ITAA 1997 40-102(4A)
ITAA 1997 40-105
ITAA 1997 40-110
ITAA 1997 40-345(2)
TAA 1953