Taxation Ruling
TR 2014/4A1 - Addendum
TR 2014/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2014)
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Addendum
This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Ruling TR 2014/4 to insert missing entries and words, correct a heading description and remove the incorrect use of an asterisk.
TR 2014/4 is amended as follows:
1. Table A as at 1 July 2014 Effective Lives (Industry Categories)
Under the heading 'Vegetable growing (under cover) (01220)'; Omit:
Hydroponics growers may use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)
Substitute:
Hydroponics growers may also use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150)
2. Table A as at 1 July 2014 Effective Lives (Industry Categories)
Omit the heading 'Steel coil roll forming, slitting, blanking and sheet metal forming (22210 to 22290)'; substitute 'Steel coil roll forming, slitting and blanking and sheet metal forming (22210 to 22290)'.
3. Table B as at 1 July 2014 Effective Lives (Asset Categories)
Under the heading P, after 'Platform scales'; Insert:
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 20 1 Jan 2001
4. Table B as at 1 July 2014 Effective Lives (Asset Categories)
Under the heading T; Omit:
Complete telephone system (comprising switchboards, instruments, cables etc) 20 * 1 Jan 2001
Substitute:
Complete telephone system (comprising switchboards, instruments, cables etc) 20 1 Jan 2001
This Addendum applies on and from 1 July 2014.
Commissioner of Taxation
6 August 2014
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References
ATO references:
NO 1-5EJ20VG