Taxation Ruling

TR 2021/3

Income tax: effective life of depreciating assets (applicable from 1 July 2021)

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  This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further details).

Find an asset

You should first try and find your asset under the relevant industry category - using Table A . You may only use the effective life for an asset listed in Table A if you are a participant of that industry.

If you cannot find your asset in this listing, or you are not a participant of that industry, go to Table B .

If a particular asset is not listed in either Table A or B , it means the Commissioner has not made a determination of its effective life. You will need to work out its effective life yourself (see section 40-105 and Appendix , Working out your own effective life - paragraphs 46 to 49 of this Ruling).

Table A - effective life by industry

Table B - effective life by asset

Go to A , B , C , D , E , F , G , H , J , L , M , O , P , S , T , U , V , W

Not issued as a draft

References

ATO references:
NO 1-P4Z8VU5

Previous Rulings/Determinations:
TR 2015/2
TR 2016/1
TR 2017/2
TR 2018/4
TR 2019/5
TR 2020/3

Subject References:
depreciation
depreciation rate
effective life

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)
IT(TP)A 1997 Subdiv 40-BB
TAA 1953

Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2021