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that the PDF version is the authorised consolidated version of this ruling and amending notices.This document has been Withdrawn.View the Withdrawal notice for this document.This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further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).
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 |
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