Taxation Ruling
TR 2022/1
Income tax: effective life of depreciating assets (applicable from 1 July 2022)
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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).
F
| F | |||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Fences: | |||
| Portable electric fences | 20 | * | 1 Jul 2014 |
| Wire mesh (demountable used for partitioning purposes, including portable electric fences) | 20 | * | 1 Jul 2014 |
| Fire control and alarm assets: | |||
| Alarms: | |||
| Heat | 6 | * | 1 Jul 2004 |
| Smoke | 6 | * | 1 Jul 2004 |
| Detection and alarm systems: | |||
| Alarm bells | 12 | * | 1 Jul 2004 |
| Detectors: | |||
| Aspirated smoke | 12 | * | 1 Jul 2004 |
| Heat | 20 | * | 1 Jul 2004 |
| Manual call point (addressable type only) | 20 | * | 1 Jul 2004 |
| Multi type | 20 | * | 1 Jul 2004 |
| Smoke | 20 | * | 1 Jul 2004 |
| Fire indicator panels | 12 | * | 1 Jul 2004 |
| Gas suppression cylinders | 25 | * | 1 Jul 2004 |
| Emergency warning and intercommunication systems: | |||
| Master emergency control panels | 12 | * | 1 Jul 2004 |
| Speakers | 12 | * | 1 Jul 2004 |
| Strobe lights | 12 | * | 1 Jul 2004 |
| Warden intercom phones | 12 | * | 1 Jul 2004 |
| Extinguishers | 15 | * | 1 Jul 2004 |
| Hoses and nozzles | 10 | * | 1 Jul 2004 |
| Pumps (including diesel and electric) | 25 | * | 1 Jul 2004 |
| Stair pressurisation assets: | |||
| AC variable speed drives (VSDs) | 10 | * | 1 Jul 2004 |
| Pressurisation and extraction fans | 25 | * | 1 Jul 2004 |
| Sensors | 10 | * | 1 Jul 2004 |
| Floor coverings (removable without damage): | |||
| Carpets (excluding fixed carpet tiles) | 8 | * | 1 Jul 2016 |
| Floating timber | 15 | * | 1 Jul 2016 |
| Linoleum and vinyl | 10 | * | 1 Jul 2016 |
| Fogging machines (insecticide, including cold foggers and thermal foggers): | |||
| Portable | 6 | * | 1 Jul 2013 |
| Vehicle mounted | 10 | * | 1 Jul 2013 |
| Forklifts | 11 | * | 1 Jul 2002 |
| Forklift battery chargers | 11 | * | 1 Jul 2013 |
| Formwork, beams and props, steel | 10 | * | 1 Jul 2008 |
| Foundations for plant and machinery (integral to the operation of such plant and machinery, but not incorporated into the plant and machinery itself) | 40 | * | 1 Jul 2014 |
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
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