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).
P
| P | |||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Packaging machines: | |||
| Bagging machines (including flow wrappers, form fill and seal machines, and roll wrapping machines) | 10 | * | 1 Jul 2009 |
| Bag sewers | 7 | * | 1 Jul 2017 |
| Carton erecting, packing and closing machines (including cartoners) | 10 | * | 1 Jul 2009 |
| Case erecting, packing and closing machines (including casepackers) | 10 | * | 1 Jul 2009 |
| Inspection equipment (including checkweighers, metal detectors, counting machines etc) | 10 | * | 1 Jul 2009 |
| Multihead and singlehead weighers | 10 | * | 1 Jul 2009 |
| Palletisers and depalletisers | 12 | * | 1 Jul 2009 |
| Product identification labellers (including decorating, applicators and coding machines) | 8 | * | 1 Jul 2009 |
| Robotic pick and place packaging machines | 10 | * | 1 Jul 2009 |
| Wrapping machines (including pallet wrappers, shrink wrappers, stretch wrappers and strapping machines) | 10 | * | 1 Jul 2017 |
| Partitions (demountable) | 20 | * | 1 Jul 2005 |
| Plastic safety screens (including sneeze guards) | 2 | * | 1 July 2022 |
| Platform scales | 15 | * | 1 Jul 2014 |
| Plumbing fixtures and fittings (including wall and floor tiles) provided mainly for employees and/or children of employees of an entity carrying on a business for the purpose of producing assessable income: | |||
| Floor and wall tiles | 20 | * | 1 Jul 2015 |
| Generally (including basins, bidets, sinks, toilets, urinals etc) | 20 | * | 1 Jul 2015 |
| Tapware (including taps, mixers and shower heads and assemblies) | 15 | * | 1 Jul 2015 |
| Pneumatic air tube systems | 10 | * | 1 Jul 2013 |
| Point of sale assets: | |||
| Cash registers, standalone type | 10 | * | 1 Jul 2005 |
| Cash transfer system assets, pneumatic type (including printer circuit board, transfer pipes and turbines) | 10 | * | 1 Jul 2005 |
| Generally (including barcode scanners, cash drawers, dedicated computers, electronic funds transfer point of sale (EFTPOS) machines, keyboards, monitors, printers and terminals) | 6 | * | 1 Jul 2005 |
| Weighing machines and scales (including weigh labelling machines) | 10 | * | 1 Jul 2005 |
| 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 |
| Powder coating machines and systems (automatic and manual) | 10 | * | 1 Jul 2014 |
| Power regulation systems (PRS) | 5 | * | 1 Jul 2016 |
| Power supply assets: | |||
| Emergency or standby: | |||
| Generator assets: | |||
| Acoustic hoods and canopies | 20 | * | 1 Jul 2005 |
| Generators (incorporating attached engine management and generator monitoring instruments) | 25 | * | 1 Jul 2005 |
| Power management units | 15 | * | 1 Jul 2005 |
| Uninterruptible power supply (UPS) systems | 15 | * | 1 Jul 2013 |
| Generators, portable (incorporating attached engine management and generator monitoring instruments): | |||
| Diesel | 10 | * | 1 Jul 2008 |
| Petrol | 5 | * | 1 Jul 2008 |
| Private electricity line assets (where used for a specified purpose [58] ): | |||
| Distribution lines: | |||
| Combination of overhead and underground | 47 ½ | * | 1 Jul 2014 |
| Overhead (incorporating poles - concrete, wood, steel or stobie - and electrical equipment the responsibility of the private landholder such as conductors, cross arms etc) | 45 | * | 1 Jul 2014 |
| Underground (incorporating cables, fittings and ground pad mounted transformers) | 50 | * | 1 Jul 2014 |
| Service cables, overhead | 40 | * | 1 Jul 2014 |
| Service cables, underground | 50 | * | 1 Jul 2014 |
| Storage batteries | 15 | * | 1 Jul 2013 |
| Power tools: | |||
| Chainsaws (Chain saws) | 3 | * | 1 Jul 2008 |
| Hand tools: | |||
| Air | 5 | * | 1 Jul 2008 |
| Battery | 3 | * | 1 Jul 2008 |
| Electric | 5 | * | 1 Jul 2008 |
| Jack hammers: | |||
| Air | 7 | * | 1 Jul 2008 |
| Electric | 3 | * | 1 Jul 2008 |
| Nail guns - air | 3 | * | 1 Jul 2008 |
| Power transformers | 45 | * | 1 Jan 2002 |
| Public address and paging system assets (including amplifiers, audio speakers and microphones) | 12 | * | 1 Jul 2005 |
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