Taxation Ruling

TR 2014/4

TR 2014/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2014)

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    This Ruling, which applies from 1 July 2014, replaces TR 2013/4 (see paragraph 5 of this Ruling for further details).
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TR 2014/4 - Effective lives (Industry Categories)
Table A as at 1 July 2014 - MINING

MINING
( 06000 to 10900 )
 
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Crushing and milling assets:      
        Crushers:      
                Cone and gyratory 25   *   1   Jul   2003
                Feeder breaker 20   *   1   Jul   2003
                Generally 25   *   1   Jul   2003
                Impact and rotary 20   *   1   Jul   2003
                Jaw 25   *   1   Jul   2003
                Roller (including roll sizers) 20   *   1   Jul   2003
        Grinding mills:      
                Ball and rod 25   *   1   Jul   2003
                Generally 25   *   1   Jul   2003
                Hammer 15   *   1   Jul   2003
                SAG (autogenous) 25   *   1   Jul   2003
Hydrometallurgy and Pyrometallurgy assets:      
        Adsorption process assets 20   *   1   Jul   2003
        Agglomeration (pelletizing) assets 25   *   1   Jul   2003
        Calcination process assets (including kilns) 25   *   1   Jul   2003
        Casting process assets for casting billets or ingots 30   *   1   Jul   2003
        Converting process assets (including rotatable cylindrical furnaces) 30   *   1   Jul   2003
        Cooling process assets (including cooling towers) 25   *   1   Jul   2003
        Counter current decantation (CCD) process assets 20   *   1   Jul   2003
        Drying process assets (including rotary dryers, spray dryers and indirect heat exchanger dryers) 25   *   1   Jul   2003
        Electrolysis process assets (including electrowinning process and electro refining process assets including tanks) 20   *   1   Jul   2003
        Filtration process assets 15   *   1   Jul   2003
        Gas cleaning process assets (including electrostatic precipitators and baghouses) 20   *   1   Jul   2003
        Gas recovery process assets (including stripping and absorption assets) 25   *   1   Jul   2003
        Ion exchange process assets 15   *   1   Jul   2003
        Leaching process assets:      
                Atmospheric 15   *   1   Jul   2003
                Generally 25   *   1   Jul   2003
                Pressure 25   *   1   Jul   2003
        Neutralisation process assets 20   *   1   Jul   2003
        Pots and ladles used for molten materials 30   *   1   Jul   2003
        Precipitation process assets (including tanks and agitators) 20   *   1   Jul   2003
        Pressure vessels 30   *   1   Jul   2003
        Roasting process assets (including kilns and furnaces) 30   *   1   Jul   2003
        Sintering process assets (including continuous sintering machines) 30   *   1   Jul   2003
        Smelting process assets (including furnaces) 25   *   1   Jul   2003
        Solution treatment and metal recovery assets 20   *   1   Jul   2003
        Solvent extraction process assets (including mixer-settler units) 20   *   1   Jul   2003
        Tailings stills 20   *   1   Jul   2003
Infrastructure support assets:      
        Compressors 15   *   1   Jul   2003
        Control systems and communication systems assets:      
                Generally 10   *   1   Jul   2003
                Instruments 10   *   1   Jul   2003
                Towers or other supporting structures 30   *   1   Jul   2003
        Electrical infrastructure assets (including power reticulation, substations, switchgear and transformers) 25   *   1   Jul   2003
        Mineral treatment structure 40   *   1   Jul   2003
        Pipes and pipelines (including valves and fittings):      
                Generally 25   *   1   Jul   2003
                Slurry pipework within processing facility (including slurry pipe to thickener) 10   *   1   Jan   2006
        Pumps:     *    
                Generally 20   *   1   Jul   2003
                Positive displacement pumps 15   *   1   Jul   2003
Materials handling assets:      
        Belt magnets, samplers, metal detectors and analysers 15   *   1   Jul   2003
        Bins, chutes, hoppers, bunkers and silos 30   *   1   Jul   2003
        Bucket elevators 25   *   1   Jul   2003
        Conveyors 25   *   1   Jul   2003
        Feeders:      
                Generally (including apron and belt) 20   *   1   Jul   2003
                Vibrating 15   *   1   Jul   2003
        Fuel storage tanks 30   *   1   Jul   2003
        Gas storage tanks and spheres 25   *   1   Jul   2003
        Grizzly bars and scalpers 25   *   1   Jul   2003
        Overhead crane/gantry 30   *   1   Jul   2003
        Stack (chimney) 30   *   1   Jul   2003
        Stockpile assets:      
                Reclaim tunnel flow valves and activators 25   *   1   Jul   2003
                Stackers, reclaimers and stacker/reclaimers 25   *   1   Jul   2003
                Train loaders 30   *   1   Jul   2003
                Tripper/stacker and stacking conveyor systems 25   *   1   Jul   2003
                Tunnel vent and exhaust fans 15   *   1   Jul   2003
        Water recycling facility 20   *   1   Jul   2003
        Water storage tanks 30   *   1   Jul   2003
        Weighing machines (including weighers for feeders and conveyors) 20   *   1   Jul   2004
Mineral dressing assets:      
        Classification, gravity separation and dewatering assets:      
                Centrifuges 15   *   1   Jul   2003
                Cyclones:      
                        Dense medium and heavy medium 8   *   1   Jul   2003
                        Generally (including classifying, desliming, and hydrocyclones) 15   *   1   Jul   2003
                Generally 18   *   1   Jul   2003
                Hydraulic classifiers and teetered bed separators 20   *   1   Jul   2003
                Jigs 25   *   1   Jul   2003
                Pneumatic tables and air separators 25   *   1   Jul   2003
                Settling cones 25   *   1   Jul   2003
                Shaking tables 25   *   1   Jul   2003
                Sluices and cone concentrators 25   *   1   Jul   2003
                Spirals 12   *   1   Jul   2003
        Electrostatic separation assets 20   *   1   Jul   2003
        Filtration assets (including pressure filtration and vacuum filtration equipment) 15   *   1   Jul   2003
        Flotation assets (including tanks, launders, agitators, air supply and reagent dosing equipment) 20   *   1   Jul   2003
        Magnetic separation assets (including cross belt, drum and disc types) 20   *   1   Jul   2003
        Screening assets 15   *   1   Jul   2003
        Thickening assets 25   *   1   Jul   2003
Port assets - see Table A Water transport and support services (48100 to 48200) and (52110 to 52190)      
Railway infrastructure assets and rolling-stock - see Table A Rail freight and passenger transport services (47100 to 47200)      
Surface mobile mining machines:      
        Bucket wheel excavators 30   *   1   Jul   2002
        Compressors 20   *   1   Jul   2002
        Cranes 20   *   1   Jul   2002
        Dozers 9   *   1   Jul   2002
        Draglines 30   *   1   Jul   2002
        Drill rigs (Production) 10   *   1   Jul   2002
        Electric rope shovels 25   *   1   Jul   2002
        Generators 10   *   1   Jul   2002
        Graders 10   *   1   Jul   2002
        Hydraulic excavators (including hydraulic front shovels) 10   *   1   Jul   2002
        Lighting system 10   *   1   Jul   2002
        Off highway trucks (including articulated, rigid dump, service, fuel and water trucks) 10   *   1   Jul   2002
        Rollers 15   *   1   Jul   2002
        Scrapers 7   *   1   Jul   2002
        Skid steer loader 7   *   1   Jul   2002
        Tool carrier 10   *   1   Jul   2002
        Wheel loader 8   *   1   Jul   2002
Tailings dams 20   1   Jan   2001
Underground mobile mining machines:      
        Compressors 10   *   1   Jul   2002
        Continuous haulage system 10   *   1   Jul   2002
        Continuous miner 10   *   1   Jul   2002
        Drill rigs:      
                Diamond 20   *   1   Jul   2002
                Production 7   *   1   Jul   2002
        Feeder breaker 15   *   1   Jul   2002
        Grader 10   *   1   Jul   2002
        Jumbo 10   *   1   Jul   2002
        Load-haul-dump machine 6   *   1   Jul   2002
        Long-wall equipment:      
                Armoured face conveyor 6   *   1   Jul   2002
                Beam stage loader 7   *   1   Jul   2002
                Hydraulic pump module 15   *   1   Jul   2002
                Hydraulic roof support 10   *   1   Jul   2002
                Impact crusher 10   *   1   Jul   2002
                Mobile conveyor tail end 5   *   1   Jul   2002
                Roof support relocation vehicle 10   *   1   Jul   2002
                Shearer 7   *   1   Jul   2002
                Shearer carrier 10   *   1   Jul   2002
        Maintenance vehicle 8   *   1   Jul   2002
        Personnel transporter 8   *   1   Jul   2002
        Raise borers and down reamers 20   *   1   Jul   2002
        Roof bolters 8   *   1   Jul   2002
        Scissor lift 6   *   1   Jul   2002
        Shuttle car 12   *   1   Jul   2002
        Skid steer loader 12   *   1   Jul   2002
        Underground haulage trucks 6   *   1   Jul   2002
        Wheel loader 6   *   1   Jul   2002
Workshop plant 20   1   Jan   2001
 
Coal mining
( 06000 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Coal preparation assets:      
        Centrifuges 15   *   1   Jul   2003
        Crushing assets (including feeder breakers, impact, roller and rotary crushers) 20   *   1   Jul   2003
        Cyclones:      
                Dense medium, heavy medium 6   *   1   Jul   2003
                Generally (including classifying, desliming and hydrocyclones) 10   *   1   Jul   2003
        Filtration assets (including belt, drum and vacuum filters) 15   *   1   Jul   2003
        Flotation assets (including agitation air supply systems, launders, reagent dosing systems and tanks) 20   *   1   Jul   2003
        Grizzly bars and scalpers 25   *   1   Jul   2003
        Jigs and heavy medium baths 25   *   1   Jul   2003
        Magnetic separators 20   *   1   Jul   2003
        Spirals 12   *   1   Jul   2003
        Thickening assets 25   *   1   Jul   2003
Infrastructure support assets:      
        Analysers, belt magnets, grinding mills, metal detectors and samplers 15   *   1   Jul   2003
        Coal preparation facility framework/structure 40   *   1   Jul   2003
        Compressors 15   *   1   Jul   2003
        Control systems and communication systems assets:      
                Generally 10   *   1   Jul   2003
                Instruments 10   *   1   Jul   2003
                Towers or other supporting structures 30   *   1   Jul   2003
        Electrical infrastructure assets (including reticulation assets, substations, switch gear and transformers) 25   *   1   Jul   2003
        Fuel storage tanks 30   *   1   Jul   2003
        Gas storage tanks 25   *   1   Jul   2003
        Overhead crane/gantry 30   *   1   Jul   2003
        Pipes and pipelines (including valves and fittings):      
                Generally 25   *   1   Jul   2003
                Slurry pipework within processing facility (including slurry pipe to thickener) 10   *   1   Jan   2006
        Pumps:      
                Generally (including centrifugal pumps) 20   *   1   Jul   2003
                Positive displacement pumps 15   *   1   Jul   2003
        Train loaders 30   *   1   Jul   2003
        Tunnel vent or exhaust fans 15   *   1   Jul   2003
        Valves and other non pipe fittings 10   *   1   Jul   2003
        Water recycling facility 20   *   1   Jul   2003
        Water storage dams (including fire services dams and water storage dams generally) 30   *   1   Jul   2003
        Water storage tanks 30   *   1   Jul   2003
Materials handling assets:      
        Bins, chutes, hoppers, silos and storage bunkers 30   *   1   Jul   2003
        Bucket elevators 25   *   1   Jul   2003
        Conveyors 25   *   1   Jul   2003
        Feeders:      
                Generally (including apron and belt feeders) 20   *   1   Jul   2003
                Vibrating feeders 15   *   1   Jul   2003
        Stockpile spraying system 20   *   1   Jul   2003
        Stockpile stackers, reclaimers and stacker reclaimers:      
                Generally (including all machinery) 25   *   1   Jul   2003
                Reclaim tunnels 25   *   1   Jul   2003
                Tripper/stacker 25   *   1   Jul   2003
 
Oil and gas extraction
( 07000 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Assets used to manufacture condensate, crude oil, domestic gas, liquid natural gas (LNG) or liquid petroleum gas (LPG) but not if the manufacture occurs in an oil refinery [15] :      
        Control systems 10   *   1   Jul   2002
        Domestic gas processing assets (including centrifugal compressor, column, gas turbine, heat exchanger, piping and turbo expander) 30   *#   1   Jul   2002
        Electricity generation assets - see Table A Electricity supply (26110 to 26400)      
        Flare tower for gas flare 25   *#   1   Jul   2002
        Fractionation train assets (including air cooler, column, compressor, heat exchanger, piping and pumps) 30   *#   1   Jul   2002
        Hot water system assets 17 ½   *#   1   Jul   2002
        Instruments 12 ½   *   1   Jul   2002
        LNG holding facility assets (including boil off gas compressor, cryogenic storage tank, loading arm, pumps and tank) 30   *#   1   Jul   2002
        LNG train assets (including centrifugal compressor, column, cryogenic heat exchanger, gas turbine driver and other heat exchangers) 30   *#   1   Jul   2002
        Stabiliser process assets (including column, heat exchanger, pumps and reciprocating compressor) 30   *#   1   Jul   2002
        Storage and loading assets (including cryogenic storage tank, jetty, loading arm, LPG chiller and pumps) 30   *#   1   Jul   2002
        Trunkline onshore terminal (TOT) assets:      
                Flash tanks 20   *#   1   Jul   2002
                Slugcatcher and associated piping 30   *#   1   Jul   2002
                Valves including control valves 12 ½   *   1   Jul   2002
Gas production assets [16] :      
        Central production facility assets:      
                Boiler 10   *   1   Jul   2002
                Cabling for power and control system 30   *#   1   Jul   2002
                Diesel system 15   *   1   Jul   2002
                Drains system 20   *#   1   Jul   2002
                Drill rig 10   *   1   Jul   2002
                Flare system assets:      
                        Carbon steel piping 15   *   1   Jul   2002
                        Flare tip 5   *   1   Jul   2002
                        Stainless steel piping 30   *#   1   Jul   2002
                Fuel gas system 30   *#   1   Jul   2002
                Gas compression and reinjection assets:      
                        Gas compressor used offshore 10   *   1   Jul   2002
                        Gas turbine driver used offshore 12 ½   *   1   Jul   2002
                        Power turbine used offshore 12 ½   *   1   Jul   2002
                        Generally (including piping, skid, vessels and assets used onshore) 30   *#   1   Jul   2002
                Heat exchanger 30   *#   1   Jul   2002
                Major carbon steel vessels 12 ½   *   1   Jul   2002
                Major stainless steel (or lined) vessels 30   *#   1   Jul   2002
                Offshore platform:      
                        Generally (including accommodation module, flare structure, helideck, jacket primary steel work and topsides secondary steel work) [17] 30   *#   1   Jul   2002
                        Topsides tertiary steelwork (including handrails, ladders and stairs) 15   *   1   Jul   2002
                Piping 30   *#   1   Jul   2002
                Pump:      
                        Circulation pump 12 ½   *   1   Jul   2002
                        Generally 20   *#   1   Jul   2002
                        Seawater lift pump 15   *   1   Jul   2002
                Shutdown and fire/gas system 15   *   1   Jul   2002
                Tempered water system assets:      
                        Chemical treatment assets 12 ½   *   1   Jul   2002
                        Piping and vessels 30   *#   1   Jul   2002
                Utility air compressors 15   *   1   Jul   2002
        Control systems 10   *   1   Jul   2002
        Electricity generation assets - see Table A Electricity supply (26110 to 26400)      
        Floating production storage and offloading (FPSO) vessel (incorporating mooring system) 20   *#   1   Jul   2002
        Floating storage and offloading (FSO) vessel (incorporating mooring system) 20   *#   1   Jul   2002
        Infield pipeline 30   *#   1   Jul   2002
        Instruments (including level, pressure and temperature indicators) 12 ½   *   1   Jul   2002
        Offshore bulk loading transfer system 10   *   1   Jul   2002
        Subsea production assets (including control umbilical, flowline and manifold) 20   *#   1   Jul   2002
        Trunkline 30   *#   1   Jul   2002
        Valve 12 ½   *   1   Jul   2002
        Well and downhole equipment 15   *   1   Jul   2002
        Wellhead and christmas tree 30   *#   1   Jul   2002
Oil production assets [18] :      
        Central production facility assets (excluding FPSOs):      
                Boiler 10   *   1   Jul   2002
                Circulation pump 12 ½   *   1   Jul   2002
                Drill rig 10   *   1   Jul   2002
                Flare tip 5   *   1   Jul   2002
                Gas compression and reinjection assets:      
                        Gas compressor used offshore 10   *   1   Jul   2002
                        Gas turbine driver used offshore 12 ½   *   1   Jul   2002
                        Power turbine used offshore 12 ½   *   1   Jul   2002
                        Generally (including piping, skid, vessels and assets used onshore) 15   *   1   Jul   2002
                Generally (including offshore platform) 15   *   1   Jul   2002
                Major carbon steel vessels 12 ½   *   1   Jul   2002
                Pump:      
                        Circulation pump 12 ½   *   1   Jul   2002
                        Other 15   *   1   Jul   2002
                Tempered water system assets:      
                        Chemical treatment assets 12 ½   *   1   Jul   2002
                        Piping and vessels 15   *   1   Jul   2002
        Control systems 10   *   1   Jul   2002
        Electricity generation assets - see Table A Electricity supply (26110 to 26400)      
        Floating production storage and offloading (FPSO)- vessel (incorporating mooring system) 20   *#   1   Jul   2002
        Floating storage and offloading (FSO) vessel- (incorporating mooring system) 20   *#   1   Jul   2002
        Infield pipeline 15   *   1   Jul   2002
        Instruments (including level, pressure and - temperature indicators) 12 ½   *   1   Jul   2002
        Offshore bulk loading transfer system 10   *   1   Jul   2002
        Subsea production assets (including control - umbilical, flowline and manifold) 15   *   1   Jul   2002
        Trunkline 30   *#   1   Jul   2002
        Valve 12 ½   *   1   Jul   2002
        Well and downhole equipment 10   *   1   Jul   2002
        Wellhead and christmas tree 15   *   1   Jul   2002
Port assets - see Table A Water transport and support services (48100 to 48200) and (52110 to 52190)      
 
Iron ore mining
( 08010 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Infrastructure support assets:      
        Blowers, high pressure 15   *   1   Jan   2006
        Dust suppression/control equipment 15   *   1   Jan   2006
Materials handling assets:      
        Feeders:      
                Vibrating 10   *   1   Jan   2006
Mineral dressing assets:      
        Cyclones, dense/heavy medium (unlined nihard) 1   *   1   Jan   2006
        Dense medium separation assets (including baths and drums) 20   *   1   Jan   2006
        Magnetic separation assets:      
                LIMS (low intensity magnetic separators) 20   *   1   Jan   2006
                WHIMS (wet high intensity magnetic separators) 15   *   1   Jan   2006
        Screening assets 10   *   1   Jan   2006
 
Gold ore mining
( 08040 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Gold ore processing assets:      
        Adsorption process assets 15   *   1   Jul   2004
        Carbon regeneration kilns 12   *   1   Jul   2004
        Concentrators (including inline pressure jigs and mechanical concentrators) 10   *   1   Jul   2004
        Crushing assets:      
                Cone/gyratory crushers 20   *   1   Jul   2004
                Hydraulic rock breakers 12   *   1   Jul   2004
                Jaw crushers 20   *   1   Jul   2004
        Electrowinning/electrorefining assets 17   *   1   Jul   2004
        Elution columns 12   *   1   Jul   2004
        Elution storage tanks 17   *   1   Jul   2004
        Laboratory assets:      
                Atmospheric adsorption spectrometers 10   *   1   Jul   2004
                Generally (including drying ovens, pulverisers, crushers, gas fired ovens, fume cupboards) 15   *   1   Jul   2004
        Leaching process assets (including carbon in pulp and carbon in leach processes) 15   *   1   Jul   2004
        Shaking tables 12   *   1   Jul   2004
        Smelting furnaces 15   *   1   Jul   2004
        Thickening assets 20   *   1   Jul   2004
 
Mineral sand mining
( 08050 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Aeration assets (including aerators, attritioners, blowers and turbine impeller agitated vessels) 20   *   1   Jan   2003
Classification and gravity separation assets (including centrifuges, cones, cyclones, screw classifiers, spirals and tables) 15   *   1   Jan   2003
Crushing assets (including drum scrubbers) 30   *   1   Jan   2003
Dredges 20   *   1   Jul   2009
Drying assets:      
        Generally (including flash and fluid bed dryers and fluid bed heaters) 20   *   1   Jan   2003
        Rotary dryer kilns 30   *   1   Jan   2003
Dust management assets:      
        Baghouse filters and extractors 30   *   1   Jan   2003
        Cyclones 15   *   1   Jan   2003
        Multiclones 20   *   1   Jan   2003
Electrostatic separation assets (including curve plates, electrostatic roll separators, high tension roll separators and screen plates) 20   *   1   Jan   2003
Filtration/Dewatering assets (including candle filter presses, dewatering towers, horizontal belt filters and hydrocyclones) 15   *   1   Jan   2003
Magnetic separation assets (including belt and drum separators, electromagnetic separators, induced roll and rare earth magnetic separators and wet high intensity magnets) 20   *   1   Jan   2003
Materials handling assets (including bins, bucket and conveying elevators, conveyors, feeders, hoppers, loading systems, paddle mixers and tailings stackers) 30   *   1   Jan   2003
Screening assets (including screens and trommels) 15   *   1   Jan   2003
Support assets:      
        Control systems 10   *   1   Jan   2003
        Pipes and pipelines (including valves and fittings):      
                Generally 20   *   1   Jan   2003
                Slurry pipework within processing facility (including slurry pipe to thickener) 10   *   1   Jan   2006
        Pumps 20   *   1   Jan   2003
        Tanks:      
                Constant density and thickening 20   *   1   Jan   2003
                Generally (including acid leaching and water) 15   *   1   Jan   2003
Thermal reduction assets (including cooler kilns, cooling towers, heat exchangers and reduction kilns) 30   *   1   Jan   2003
Waste gas handling assets:      
        Afterburners 20   *   1   Jan   2003
        Cyclones 15   *   1   Jan   2003
        Electrostatic precipitators 30   *   1   Jan   2003
        Scrubbers and stacks 20   *   1   Jan   2003
 
Nickel ore mining
( 08060 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Nickel ore processing assets:      
        Mineral treatment structure (including structures holding walkways, supporting assets and thoroughfares) 20   *   1   Jul   2004
        Reagent pumps (including high pressure acid leach pumps) 5   *   1   Jul   2004
 
Construction material mining
( 09110 to 09190 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Control systems (for conveying, crushing and screening assets) 10   *   1   Jul   2003
Conveyors:      
        Gravity take-up 25   *   1   Jul   2003
        Screw take-up 15   *   1   Jul   2003
Crushers:      
        Generally 20   *   1   Jul   2003
        Mobile (track or wheel mounted machinery including screening and conveying components) 15   *   1   Jul   2003
Cyclones 15   *   1   Jul   2003
Dredges 20   *   1   Jul   2009
Drill rigs 8   *   1   Jul   2003
Electrical switching assets 20   *   1   Jul   2003
Graders 15   *   1   Jul   2003
Heavy mobile quarry assets not specifically listed - see Table A Mining (06000 to 10900)      
Hydraulic oversize-rock breakers (mounted above primary crusher) 8   *   1   Jul   2003
Material handling assets (including chutes, feeders, hoppers, product bins and surge bins) 20   *   1   Jul   2003
Pug mills 15   *   1   Jul   2003
Screening assets 12   *   1   Jul   2003
Wheel loaders 10   *   1   Jul   2003
Wire saws 10   *   1   Jul   2003
 
Petroleum exploration services
( 10112 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Exploration assets used onshore:      
        Onshore surface drilling rigs (including blow out preventers, derricks, drilling fluid circulation systems, hoisting and rotary systems, rig powering and transmissions) 15   *   1   Jan   2007
        Down hole geophysics units truck mounted 12   *   1   Jan   2007
        Drill strings 4   *   1   Jan   2007
        Portable messing and sleeping huts 7   *   1   Jan   2007
Exploration assets used offshore:      
        Offshore drilling rigs (including blow out preventers, drilling fluid circulation systems, hoisting and rotary systems, platforms, rig powering and transmissions) 20   *   1   Jan   2007
        Drill strings 3   *   1   Jan   2007
        Down hole geophysics units skid mounted 10   *   1   Jan   2007
Seismic survey assets:      
        Airguns 5   *   1   Jan   2007
        Hydrophones 5   *   1   Jan   2007
Mineral exploration services
( 10122 )
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Exploration assets:      
        Drill rigs:      
                Surface (including blow out preventers, drilling fluid circulation systems, hoisting and rotary systems, rig powering and transmission and trucks) 10   *   1   Jan   2007
                Underground 5   *   1   Jan   2007
        Geophysical survey assets:      
                Airborne geophysical assets (including magnetometers, receivers and transmitters):      
                        Aircraft integrated 10   *   1   Jan   2007
                        Aircraft demountable 8   *   1   Jan   2007
                Down hole geophysical assets (including acoustic televiewers, callipers, density tools, dipmeters, draw works, neutron probes, sonic probes, receiver/transmitter modules and sondes):      
                        Portable assets 5   *   1   Jan   2007
                        Vehicle integrated assets 8   *   1   Jan   2007
                Ground geophysical assets (including gravity instruments, resistivity receivers and transmitters, scintillometers and spectrometers) 5   *   1   Jan   2007
                Portable ground geophysical assets (including electromagnetics, ground magnetics, ground penetrating radars and radiometrics) 5   *   1   Jan   2007
        Seismic survey assets:      
                Cabling 3   *   1   Jan   2007
                Geophones 5   *   1   Jan   2007
                Global positioning systems 5   *   1   Jan   2007
                Processing systems 3   *   1   Jan   2007
                Recording systems 10   *   1   Jan   2007
                Vibration source assets:      
                        Buggy mounted shear wave vibrators 10   *   1   Jan   2007
                        Drilling rigs shot hole 10   *   1   Jan   2007
                        Ground impactors 4   *   1   Jan   2007
                Total stations (incorporating a theodolite) 5   *   1   Jan   2007
        Portable messing and sleeping huts 7   *   1   Jan   2007

Not issued as a draft

References

ATO references:
NO 99/132027; 2000/20567; 2003/11601; 2004/17815; 2005/6504; 2005/18073; 2006/25212; 2007/7796; 2008/9394; 2009/5704; 1-20KCCA6; 1-2Z8ZAX4; 1-3VCCZ0O; 1-4NMTK3G; 1-5EJ20VG

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
TR 2012/2
TR 2013/4

Subject References:
capped lives
determination of effective life
decline in value
depreciating assets
effective life
effective life determination

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(5)
ITAA 1997 40-100(6)(b)
ITAA 1997 40-102(4)
ITAA 1997 40-102(4A)
ITAA 1997 40-105
ITAA 1997 40-110
TAA 1953

Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2014 (No. 1)

TR 2014/4 history
  Date: Version: Change:
  25 June 2014 Original ruling  
  16 July 2014 Consolidated ruling Erratum
You are here 6 August 2014 Consolidated ruling Addendum

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