Taxation Ruling

TR 2012/2

TR 2012/2 - Income tax: effective life of depreciating assets (applicable from 1 July 2012)

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Appendix 2 - Detailed contents list

76. Below is a detailed table of contents for this Ruling:

Paragraph
What this Ruling is about 1
Previous Rulings 5
Ruling 6
Acquisitions of plant pre 21 September 1999 8
Acquisitions of plant/depreciating assets post 21 September 1999 9
Definitions - rental properties 11
Definitions - agriculture and services to agriculture 12
Replacements 13
Horticultural plants 18
How to use this schedule 21
Date of effect 24
Appendix 1 - Explanation 25
Background 25
Context of Commissioner's review 29
Basic principles of depreciation 32
How does the Commissioner determine the effective life of a depreciating asset? 37
Physical life 40
Engineering information/manufacturer's specifications 42
Physical life/effective life 43
The way in which an asset is used by an industry/the past experience of users of the asset 44
Repairs and maintenance 46
Renewals 47
Industry standards 48
Use of the asset by different industries 49
Retention period 51
Obsolescence 52
Scrapping or abandonment practices 60
Lease periods 62
Financial analysis 63
Market value 64
Working out your own effective life 65
Rates 68
Structure 69
New and reviewed items 72
Consultation 73
Statutory caps 74
Water assets 75
Appendix 2 - Detailed contents list 76
1 July 2012 Schedule Page 18
Table A Page 22
Table B Page 205

Not issued as a draft

References

ATO references:
NO 99/132027; 2000/20567; 2003/11601; 2004/17815;

ISSN: 1039-0731

Related Rulings/Determinations:

IT 2685
TR 2000/18
TR 2006/5
TR 2006/15
TR 2007/3
TR 2008/4
TR 2009/4
TR 2010/2
TR 2011/2

Subject References:
Commissioner's determination of effective life
Commissioner's effective life schedule
decline in value
depreciating assets
depreciation
depreciation rates
effective life
self assessment of effective life

Legislative References:
ITAA 1997
ITAA 1997 Div 40
ITAA 1997 40-70(1)
ITAA 1997 40-72(1)
ITAA 1997 40-75(1)
ITAA 1997 40-95
ITAA 1997 40-100
ITAA 1997 40-100(4)
ITAA 1997 40-100(4)(b)
ITAA 1997 40-105(1)
ITAA 1997 40-110
ITAA 1997 Subdiv 40-B
ITAA 1997 Subdiv 40-E
ITAA 1997 Subdiv 40-F
ITAA 1997 Subdiv 40-G
ITAA 1997 40-520
ITAA 1997 40-555(1)
ITAA 1997 Subdiv 42-M
ITAA 1997 Div 43
ITAA 1997 Subdiv 328-D
TAA 1953
Tax Laws Amendment (Improvements to Self Assessment) Act (No. 2) 2005

TR 2012/2 history
  Date: Version: Change:
You are here 27 June 2012 Consolidated ruling  

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