Taxation Ruling
TR 2021/3
Income tax: effective life of depreciating assets (applicable from 1 July 2021)
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Please note that the PDF version is the authorised consolidated version of this ruling and amending notices.This document has been Withdrawn.View the Withdrawal notice for this document.This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further details).
A
| A | |||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Accommodation units in caravan/tourist parks being articles, not fixtures, and used for a specified purpose [46] : | |||
| Relocatable homes and tourist park cabins constructed with chassis | 20 | * | 1 Jul 2015 |
| Other accommodation units (e.g. manufactured homes) | 30 | * | 1 Jul 2015 |
| Additive manufacturing printers (including 3D printers) | 3 | * | 1 Jul 2016 |
| Advertising signs: | |||
| Billboard assets: | |||
| Billboard lighting: | |||
| HID/Metal halide lighting systems | 5 | * | 1 Jul 2015 |
| LED lighting systems (including solar powered LED lighting systems) | 10 | * | 1 Jul 2015 |
| Solar power generating assets - see Table B Solar photovoltaic electricity generation system assets | |||
| Billboard steel structures (incorporating electrical systems, footings, scaffolding and walking platforms and steel frame sign panels) | 20 | * | 1 Jul 2015 |
| Computer hardware - see Table B Computers | |||
| Digital LED screens | 6 | * | 1 Jul 2015 |
| Electronic message centre (EMC) units | 3 | * | 1 Jul 2015 |
| Mobile billboard assets: | |||
| Digital LED screens | 4 | * | 1 Jul 2015 |
| Mobile billboard trucks and trailers - see Table B Motor vehicles and trailers | |||
| Floor mounted internal advertising panels (used in airports and shopping centres etc) | 7 | * | 1 Jul 2015 |
| Kiosks and other external standalone advertising panel structures | 15 | * | 1 Jul 2015 |
| LED advertising screens (used in office tower foyers etc) | 5 | * | 1 Jul 2015 |
| Wall mounted advertising panels (used in airports, rail concourses and platforms, shopping centres etc): | |||
| Digital LED advertising panels | 5 | * | 1 Jul 2015 |
| Static advertising panels | 10 | * | 1 Jul 2015 |
| Air compression assets: | |||
| Air compression assets generally (including air compressors, air dryers and air receivers) | 15 | * | 1 Jul 2014 |
| Air compressors (portable): | |||
| Compressors - reciprocating | 7 | * | 1 Jul 2014 |
| Compressors - rotary screw | 10 | * | 1 Jul 2014 |
| Air-conditioning assets (excluding pipes, duct work and vents): | |||
| Air handling units | 20 | * | 1 Jul 2003 |
| Cooling towers | 15 | * | 1 Jul 2003 |
| Condensing sets | 15 | * | 1 Jul 2003 |
| Chillers: | |||
| Absorption | 25 | * | 1 Jul 2003 |
| Centrifugal | 20 | * | 1 Jul 2003 |
| Volumetrics (including reciprocating, rotary, screw, scroll): | |||
| Air-cooled | 15 | * | 1 Jul 2003 |
| Water-cooled | 20 | * | 1 Jul 2003 |
| Damper motors (including variable air volume box controllers) | 10 | * | 1 Jul 2003 |
| Fan coil units (connected to a condensing set) | 15 | * | 1 Jul 2003 |
| Humidifiers (steam generator) | 10 | * | 1 Jul 2003 |
| Mini split systems up to 20KW (including ceiling, floor and high wall split systems) | 10 | * | 1 Jul 2003 |
| Packaged air conditioning units | 15 | * | 1 Jul 2003 |
| Pumps | 20 | * | 1 Jul 2003 |
| Room units | 10 | * | 1 Jul 2003 |
| Aircraft: | |||
| Aeroplanes: | |||
| General use [47] | 20 | *# | 1 Jul 2002 |
| Used predominantly for agricultural spraying or agricultural dusting [48] | 10 | *# | 1 Jul 2002 |
| Helicopters: | |||
| General use [49] | 20 | *# | 1 Jul 2002 |
| Used predominantly for mustering, agricultural spraying or agricultural dusting [50] | 10 | *# | 1 Jul 2002 |
| Airless sprayers (used in painting, epoxy and polyurethane coating, priming etc): | |||
| Electrically and petrol-driven units | 7 | * | 1 Jul 2013 |
| Pneumatically-driven units | 15 | * | 1 Jul 2013 |
| Artworks qualifying as depreciating assets (restricted to works of art and reproductions of artwork that are tangible in nature, such as paintings, sculptures, drawings, engravings and photographs, that are displayed in open viewing areas in premises used for taxable purposes including reception areas, waiting rooms and foyers) | 100 | * | 1 Jul 2013 |
| Automated external defibrillators (AEDs) | 8 | * | 1 Jul 2020 |
| Automatic teller machines (ATMs) | 7 | * | 1 Jul 2019 |
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
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