LI 2022/26
Income Tax Assessment Act 1997
I, Ben Kelly, Deputy Commissioner of Taxation, make this determination under subsection 40-100(1) of the Income Tax Assessment Act 1997 (ITAA 1997).1. Name of instrument
This determination is the Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2022.
2. Commencement
This instrument commences on 1 July 2022.
3. Amendment of Income Tax (Effective Life of Depreciating Assets) Determination 2015
Schedule 1 amends the Income Tax (Effective Life of Depreciating Assets) Determination 2015 - F2015L00798 registered on 11 June 2015.
4. Determination
The amendments in this determination may affect:
- (1)
- taxpayers who choose, under paragraph 40-95(1)(a) of the ITAA 1997, to use an effective life determined by the Commissioner for a depreciating asset when working out its decline in value, and
- (2)
- taxpayers who are directed, under subsections 40-95(4C),40-95(5C), 40-95(6), 58-75(5) and 58-80(6) of the ITAA 1997, to use an effective life determined by the Commissioner.
5. Definitions
An asterisk (*) in the third column of Tables A and B indicates the corresponding assets have been reviewed to date as part of the ongoing review of the Commissioner's effective life determinations.
A hash (#) in the third column of Table A or B indicates a capped life is available for the depreciating assets under section 40-102 of the ITAA 1997.
Schedule 1 Amendments
(section 3)
[1] Heading to Table A
Omit
Table A as at 1 July 2022
Substitute
Table A as at 1 July 2022
[2] Table A, industry category AGRICULTURE, FORESTRY AND FISHING (01110 to 05290)
Omit
| Fences (excluding stockyard, pen and portable fences): Being fencing constructed at a time for a particular function (eg a line of fencing forming a side of a boundary or paddock) not being in the nature of a repair: |
Substitute
| Fences (excluding stockyard, pen and portable fences): Being fencing constructed at a time for a particular function (e.g. a line of fencing forming a side of a boundary or paddock) not being in the nature of a repair: |
[3] Table A, industry category AGRICULTURE, FORESTRY AND FISHING (01110 to 05290) , sub-category Vegetable growing (outdoors) and sugar cane growing (01230 and 01510)
Omit
| Rakes (eg cane trash rakes) | 10 | * | 1 Jul 2007 |
Substitute
| Rakes (e.g. cane trash rakes) | 10 | * | 1 Jul 2007 |
[4] Table A, industry category AGRICULTURE, FORESTRY AND FISHING (01110 to 05290) , sub-category Fruit and tree nut growing (01310 to 01370, 01390 and 01590)
Omit
| Pick ups (eg almonds) | 12 | *# | 1 Jul 2007 |
Substitute
| Pick ups (e.g. almonds) | 12 | *# | 1 Jul 2007 |
[5] Table A, industry category MINING (06000 to 10900) , sub-category Oil and gas extraction (07000) Gas compression and reinjection assets
Omit
| Generally (including piping, skid, vessels assets used onshore) | 30 | *# | 1 Jul 2002 |
Substitute
| Generally (including piping, skid, vessels and assets used onshore) | 30 | *# | 1 Jul 2002 |
[6] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Prepared animal and bird feed manufacturing (11920)
Omit
| Canning and tray assets including closers and fillers | 10 | * | 1 Jul 2013 |
Substitute
| Canning and tray assets (including closers and fillers) | 10 | * | 1 Jul 2013 |
[7] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Prepared animal and bird feed manufacturing (11920) , Prepared animal and bird feed manufacturing assets generally
After
| Storage bins | 20 | * | 1 Jul 2012 |
Insert
| Salt manufacturing and refining assets - see Table A Basic inorganic chemical manufacturing (18130) |
[8] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Other food product manufacturing n.e.c. (11990) , Peanut processing assets
After
| Refrigeration units | 20 | * | 1 Jul 2009 |
Insert
| Salt manufacturing and refining assets - see Table A Basic inorganic chemical manufacturing (18130) |
[9] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Clothing manufacturing (13510)
Omit
|
Clothing manufacturing
(13510) |
|||
| ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
| Clothing and millinery manufacturing plant: | |||
| General plant | 20 | 1 Jan 2001 | |
| Hat manufacturing plant and machinery | 13 ⅓ | 1 Jan 2001 | |
| Sewing machines | 10 | * | 1 Jul 2014 |
Substitute
|
Clothing manufacturing
(13510) |
|||
| ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
| Air compressors | 10 | * | 1 Jul 2022 |
| Cutting machines and tables | 20 | * | 1 Jul 2022 |
| Dyeing machines | 10 | * | 1 Jul 2022 |
| Fusing machines and presses | 8 | * | 1 Jul 2022 |
| Gas boilers (steam) | 15 | * | 1 Jul 2022 |
| Hat pressing machines | 20 | * | 1 Jul 2022 |
| Lights - portable | 5 | * | 1 Jul 2022 |
| Plotters and printers | 8 | * | 1 Jul 2022 |
| Pressing equipment (including ironing tables and steam boilers) | 10 | * | 1 Jul 2022 |
| Sewing machines: | |||
| Banding | 15 | * | 1 Jul 2022 |
| Button sewer, clip attaching | 5 | * | 1 Jul 2022 |
| Embroidery - single and multi-head | 12 | * | 1 Jul 2022 |
| General (including bar tack, binding, feed off the arm, single folder, two-needle, underwire) | 10 | * | 1 Jul 2022 |
| High speed industrial | 10 | * | 1 Jul 2022 |
| Millinery | 20 | * | 1 Jul 2022 |
| Overlocker | 15 | * | 1 Jul 2022 |
| Steamers | 2 | * | 1 Jul 2022 |
| Stud setting machines | 20 | * | 1 Jul 2022 |
[10] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Footwear manufacturing (13520)
Omit
| Footwear manufacturing
(13520) |
Substitute
|
Footwear manufacturing
(13520) |
[11] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Basic inorganic chemical manufacturing (18130)
Omit
| Salt manufacturing and refining plant | 10 | 1 Jan 2001 |
Substitute
| Salt manufacturing and refining assets: | |||
| Air compressors - see Table B Air compression assets: Air compression assets generally (including air compressors, air dryers and air receivers) | |||
| Augers | 10 | * | 1 Jul 2022 |
| Automated packing machines | 20 | * | 1 Jul 2022 |
| Bagging machines | 10 | * | 1 Jul 2022 |
| Bag sewers - see Table B Packaging machines: Bag sewers | |||
| Bag stackers | 15 | * | 1 Jul 2022 |
| Belt weighers | 15 | * | 1 Jul 2022 |
| Blow moulders | 15 | * | 1 Jul 2022 |
| Bucket elevators | 10 | * | 1 Jul 2022 |
| Centrifuges | 12 | * | 1 Jul 2022 |
| Conveyors | 15 | * | 1 Jul 2022 |
| Crushers | 25 | * | 1 Jul 2022 |
| Cyclones | 15 | * | 1 Jul 2022 |
| Dust extraction systems | 5 | * | 1 Jul 2022 |
| Forklifts - see Table B Forklifts | |||
| Kilns | 20 | * | 1 Jul 2022 |
| Labelling machines (including date printers) | 5 | * | 1 Jul 2022 |
| Metal detectors | 10 | * | 1 Jul 2022 |
| Motor control centres | 20 | * | 1 Jul 2022 |
| Net weighers | 5 | * | 1 Jul 2022 |
| Pallet wrappers - see Table B Packaging machines: Wrapping machines (including pallet wrappers, shrink wrappers, stretch wrappers and strapping machines) | |||
| Platform scales | 10 | * | 1 Jul 2022 |
| Ribbon mixers | 15 | * | 1 Jul 2022 |
| Roller mills | 15 | * | 1 Jul 2022 |
| Rotary valves | 15 | * | 1 Jul 2022 |
| Salt flake growing tanks | 15 | * | 1 Jul 2022 |
| Salt hoppers | 15 | * | 1 Jul 2022 |
| Sizing screen machines | 15 | * | 1 Jul 2022 |
| Slurry lines | 10 | * | 1 Jul 2022 |
| Wash plant pumps | 15 | * | 1 Jul 2022 |
| Wash plants (removable) | 20 | * | 1 Jul 2022 |
| Weigh feeders | 10 | * | 1 Jul 2022 |
[12] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Iron smelting and steel manufacturing (21100)
Omit
| CCTV system | 3 | * | 1 Jul 2010 |
Substitute
| CCTV systems | 3 | * | 1 Jul 2010 |
[13] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Non-ferrous metal casting (21410)
Omit
| Metal casting assets (non-ferrous eg aluminium, brass and magnesium): |
Substitute
| Metal casting assets (non-ferrous e.g. aluminium, brass and magnesium): |
[14] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Motor vehicle manufacturing (23110) Motor vehicle manufacturing plant (not listed elsewhere)
Omit
| Tooling (ie jigs, dies, press tools and specialty attachments such as working heads and work-holding tools) | 3 | 1 Jan 2001 |
Substitute
| Tooling (i.e. jigs, dies, press tools and specialty attachments such as working heads and work-holding tools) | 3 | 1 Jan 2001 |
[15] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Other transport equipment manufacturing n.e.c. (23990)
Omit
| Motor cycle building plant | 10 | 1 Jan 2001 |
Substitute
| Motorcycle building plant | 10 | 1 Jan 2001 |
[16] Table A, industry category MANUFACTURING (11110 to 25990) , sub-category Wooden furniture and upholstered seat manufacturing (25110)
Omit
|
Wooden furniture and upholstered seat manufacturing
(25110) |
|||
| ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
| Furniture-making plant | 13 ⅓ | 1 Jan 2001 | |
Substitute
|
Wooden furniture and upholstered seat manufacturing
(25110) |
|||
| ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
| Dust management assets: | |||
| Portable dust extractors | 5 | * | 1 Jul 2022 |
| Portable wet and dry vacuum cleaners | 5 | * | 1 Jul 2022 |
| Stationary dust collection systems (incorporating bags, motors, pipes etc) | 12 | * | 1 Jul 2022 |
| Spray booth assets: | |||
| Full face air fed masks | 3 | * | 1 Jul 2022 |
| Paint pumps | 5 | * | 1 Jul 2022 |
| Spray booths | 15 | * | 1 Jul 2022 |
| Spray guns | 3 | * | 1 Jul 2022 |
| Support assets: | |||
| Air compression assets - see Table B Air compression assets | |||
| Air compressors (portable) - see Table B Air compressors (portable) | |||
| Forklifts - see Table B Forklifts | |||
| Racks | 15 | * | 1 Jul 2022 |
| Trolleys (carts) | 10 | * | 1 Jul 2022 |
| Vacuum lifters | 5 | * | 1 Jul 2022 |
| Work benches and tables | 10 | * | 1 Jul 2022 |
| Tools: | |||
| Benchtop power tools (including biscuit/domino joiners, drill presses, jigsaws, laminate trimmers, mortisers, planners, routers, spindle sanders etc but excluding saws) | 5 | * | 1 Jul 2022 |
| Clamps | 10 | * | 1 Jul 2022 |
| Hand held power tools (including air, battery, and electric) - see Table B Power tools, hand tools | |||
| Hand tools (manual operated) - see Table B Hand tools (manual operated) | |||
| Sawing machines: | |||
| Band saws | 8 | * | 1 Jul 2022 |
| Circular saws | 8 | * | 1 Jul 2022 |
| Mitre saws (drop saws) | 7 | * | 1 Jul 2022 |
| Panel saws | 8 | * | 1 Jul 2022 |
| Table saws | 10 | * | 1 Jul 2022 |
| Stationary machines: | |||
| Computer numerical control (CNC) machines (including CNC routers) | 10 | * | 1 Jul 2022 |
| Edge banders | 8 | * | 1 Jul 2022 |
| Pedestal drills (drill presses) | 10 | * | 1 Jul 2022 |
| Sanders (including belt sanders, drum sanders, edge sanders, spindle sanders etc) | 12 | * | 1 Jul 2022 |
| Spindle moulders | 10 | * | 1 Jul 2022 |
| Thicknessers/Buzzers | 15 | * | 1 Jul 2022 |
| Upholstery assets: | |||
| CNC fabric cutters | 10 | * | 1 Jul 2022 |
| Hand fabric cutters | 5 | * | 1 Jul 2022 |
| Sewing machines | 10 | * | 1 Jul 2022 |
[17] Table A, industry category RETAIL TRADE (39110 to 43209)
After
| Overhead track scales (including meat rail scales) | 10 | * | 1 Jul 2005 |
Insert
| Plastic safety screens (including sneeze guards) | 2 | * | 1 Jul 2022 |
[18] Table A, industry category RETAIL TRADE (39110 to 43209) , sub-category Motor vehicle tyre or tube retailing (39220)
Omit
| Air receivers | 10 | * | 1 Jul 2011 |
| Air driers and dehumidifiers | 10 | * | 1 Jul 2011 |
Substitute
| Air driers and dehumidifiers | 10 | * | 1 Jul 2011 |
| Air receivers | 10 | * | 1 Jul 2011 |
[19] Table A, industry category ACCOMMODATION AND FOOD SERVICES (44000 to 45302) , sub-category Cafes, restaurants, takeaway food services, pubs, taverns, bars and clubs (hospitality) (45110 to 45302)
Omit
| Menu boards | 5 | * | 1 Jul 2005 |
| Poker/gaming machines | 7 | * | 1 Jul 2009 |
Substitute
| Menu boards | 5 | * | 1 Jul 2005 |
| Plastic safety screens (including sneeze guards) | 2 | * | 1 Jul 2022 |
| Poker/gaming assets - see Table A Casino operations (92010) |
[20] Table A, industry category TRANSPORT, POSTAL AND WAREHOUSING (46100 to 53090) , sub-category Road transport (46100 to 46239)
Omit
| Hire cars: | |||
| Cars used to provide basic service ride-sourcing, ride-hailing or ride-sharing services (eg uberX) | 8 | * | 1 Jul 2016 |
| Generally (including cars used to provide premium service ride-sourcing, ride-hailing or ride-sharing services eg UberBLACK) | 6 | * | 1 Jul 2016 |
Substitute
| Hire cars: | |||
| Cars used to provide basic service ride-sourcing, ride-hailing or ride-sharing services (e.g. uberX) | 8 | * | 1 Jul 2016 |
| Generally (including cars used to provide premium service ride-sourcing, ride-hailing or ride-sharing services e.g. UberBLACK) | 6 | * | 1 Jul 2016 |
[21] Table A, industry category INFORMATION MEDIA AND TELECOMMUNICATIONS (54110 to 60200) , sub-category Telecommunications services (58010 to 58090)
Omit
| Microwave radio system (including modulator, demodulator, receiver, transmitter, monitoring/supervisory system, RF filter) |
Substitute
| Microwave radio system (including modulator, demodulator, receiver, transmitter, monitoring/supervisory system, RF filter): |
[22] Table A, industry category RENTAL, HIRING AND REAL ESTATE SERVICES (66110 to 67200) , sub-category Rental and hiring services (except real estate) (66110 to 66400)
Omit
| Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (eg construction sites) | 10 | * | 1 Jul 2014 |
Substitute
| Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (e.g. construction sites) | 10 | * | 1 Jul 2014 |
[23] Table A, industry category RENTAL, HIRING AND REAL ESTATE SERVICES (66110 to 67200) , sub-category Residential property operators (67110) , Outdoor assets
Omit
| Roller blinds |
Substitute
| Roller blinds: |
[24] Table A, industry category RENTAL, HIRING AND REAL ESTATE SERVICES (66110 to 67200) , sub-category Residential property operators (67110) , Security and monitoring assets, Security systems
Omit
| Global System for Mobiles (GSM) Units | 5 | * | 1 Jul 2004 |
Substitute
| Global System for Mobiles (GSM) units | 5 | * | 1 Jul 2004 |
[25] Table A, industry category HEALTH CARE AND SOCIAL ASSISTANCE (84010 to 87900) , sub-category Retirement village and accommodation for the aged operation (86011 to 86012)
Omit
| Chairs |
Substitute
| Chairs: |
[26] Table A, industry category HEALTH CARE AND SOCIAL ASSISTANCE (84010 to 87900) , sub-category Retirement village and accommodation for the aged operation (86011 to 86012)
Omit
| Hoists | |||
| Ceiling (incorporating tracks) | 12 | * | 1 Jul 2019 |
| Mobile (floor, full, standing) | 10 | * | 1 Jul 2019 |
| Lifting slings | 2 | * | 1 Jul 2019 |
| Mattresses |
Substitute
| Hoists: | |||
| Ceiling (incorporating tracks) | 12 | * | 1 Jul 2019 |
| Mobile (floor, full, standing) | 10 | * | 1 Jul 2019 |
| Lifting slings | 2 | * | 1 Jul 2019 |
| Mattresses: |
[27] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099) , sub-category Creative and performing arts activities (90010 to 90030)
Omit
| Theatre equipment: | |||
| Accessories (theatrical - wigs, costumes etc) | 5 | 1 Jan 2001 | |
| Performing dogs - see Table B Working dogs |
Substitute
| Performing dogs - see Table B Working dogs | |||
| Theatre equipment: | |||
| Accessories (theatrical - wigs, costumes etc) | 5 | 1 Jan 2001 |
[28] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099) , sub-category Gambling activities (92010 to 92099)
Omit
| Poker/gaming machines | 7 | * | 1 Jul 2009 |
Substitute
| Poker/gaming assets - see Table A Casino operations (92010) |
[29] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099) , sub-category Gambling activities (92010 to 92099)
Omit
| Ancillary equipment (eg ticket issuing machines) | 13 ⅓ | 1 Jan 2001 |
Substitute
| Ancillary equipment (e.g. ticket issuing machines) | 13 ⅓ | 1 Jan 2001 |
[30] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099) , after sub-category Gambling activities (92010 to 92099)
Insert
|
Casino operations
(92010) |
|||
| ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
| Carpets | 8 | * | 1 Jul 2022 |
| Count and cage assets: | |||
| Coin scales | 10 | * | 1 Jul 2022 |
| Counterfeit detectors | 8 | * | 1 Jul 2022 |
| Note counters/sorters/verifiers | 6 | * | 1 Jul 2022 |
| Trolleys | 10 | * | 1 Jul 2022 |
| Electronic table games (including keno games, poker games, rapid games) | 6 | * | 1 Jul 2022 |
| Entertainment assets: | |||
| Audio (including amplifiers, microphones, speakers, processors) | 5 | * | 1 Jul 2022 |
| Visual (including televisions, DVD players) | 5 | * | 1 Jul 2022 |
| Gaming signage (including digital displays, jackpot displays, LED/LCD video walls and partitions) | 5 | * | 1 Jul 2022 |
| Gaming stools and chairs | 5 | * | 1 Jul 2022 |
| Gaming tables (including blackjack, poker, roulette) | 7 | * | 1 Jul 2022 |
| Poker/gaming machines | 6 | * | 1 Jul 2022 |
| Poker/gaming machines system hardware (used for monitoring) | 6 | * | 1 Jul 2022 |
| Security and monitoring assets - see Table B Security and monitoring assets | |||
| Table game equipment: | |||
| Big wheels | 7 | * | 1 Jul 2022 |
| Card shufflers | 5 | * | 1 Jul 2022 |
| Chippers | 5 | * | 1 Jul 2022 |
| Chips and plaques | 10 | * | 1 Jul 2022 |
| Dealer handset devices | 5 | * | 1 Jul 2022 |
| Display screens | 5 | * | 1 Jul 2022 |
| Roulette wheels | 7 | * | 1 Jul 2022 |
| Shoes (electronic type) | 5 | * | 1 Jul 2022 |
[31] Heading to Table B
Omit
Table B as at 1 July 2021
Substitute
Table B as at 1 July 2022
[32] Table B, items beginning with A
Omit
| Other accommodation units (eg manufactured homes) | 30 | * | 1 Jul 2015 |
Substitute
| Other accommodation units (e.g. manufactured homes) | 30 | * | 1 Jul 2015 |
[33] Table B, items beginning with E
After
| ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Insert
| Electric bicycles (e-bicycles and e-bikes) | 4 | * | 1 July 2022 |
| Electric scooters (e-scooters) | 2 | * | 1 July 2022 |
[34] Table B, items beginning with M
Omit
| Hire cars: | |||
| Cars used to provide basic service ride-sourcing, ride-hailing or ride-sharing services (eg uberX) | 8 | * | 1 Jul 2016 |
| Generally (including cars used to provide premium service ride-sourcing, ride-hailing or ride-sharing services eg UberBLACK) | 6 | * | 1 Jul 2016 |
Substitute
| Hire cars: | |||
| Cars used to provide basic service ride-sourcing, ride-hailing or ride-sharing services (e.g. uberX) | 8 | * | 1 Jul 2016 |
| Generally (including cars used to provide premium service ride-sourcing, ride-hailing or ride-sharing services e.g. UberBLACK) | 6 | * | 1 Jul 2016 |
[35] Table B, items beginning with P
After
| Partitions (demountable) | 20 | * | 1 Jul 2005 |
Insert
| Plastic safety screens (including sneeze guards) | 2 | * | 1 July 2022 |
[36] Table B, items beginning with P
Omit
| Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (eg construction sites) | 15 | * | 1 Jul 2014 |
Substitute
| Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (e.g. construction sites) | 15 | * | 1 Jul 2014 |
Dated 10 June 2022
Ben Kelly
Deputy Commissioner of Taxation
Policy, Analysis and Legislation
Law Design and Practice
Registration Number: F2022L00823
Registration Date: 24 June 2022
LI 2022/26 - Explanatory statement