Taxation Ruling

TR 2022/1

Income tax: effective life of depreciating assets (applicable from 1 July 2022)

• Please note that the PDF version is the authorised version of this ruling.
  This Ruling, which applies from 1 July 2022, replaces TR 2021/3 (see paragraph 6 of this Ruling for further details).

Effective life (by industry)

Table A lists assets that are specific to a particular industry or for which a particular effective life is appropriate because of the way the asset is used in that industry. Industry headings are generally drawn from the classification subject categories in the ANZSIC codes. You may only use the effective life for an asset listed in this table if you are a participant of the industry under which the asset is listed.

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

References

ATO references:
NO 1-SY3H7A0

Previous Rulings/Determinations:
TR 2017/2
TR 2018/4
TR 2019/5
TR 2020/3
TR 2021/3

Subject References:
depreciation
depreciation rate
effective life

Business Line:  PGI

Legislative References:
ITAA 1997 Div 40
ITAA 1997 40-25
ITAA 1997 40-25(7)
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 40-102(5)
ITAA 1997 40-105
ITAA 1997 40-110
ITAA 1997 40-345(2)
IT(TP)A 1997 Subdiv 40-BB

Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2022