Taxation Ruling

TR 2016/1W

Income tax: effective life of depreciating assets (applicable from 1 July 2016)

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This Ruling has been replaced by TR 2017/2
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Notice of Withdrawal

Taxation Ruling TR 2016/1 is withdrawn with effect from 1 July 2017.

1. TR 2016/1 discusses the methodology used by the Commissioner of Taxation in making a determination of the effective life of depreciating assets under section 40-100 of the Income Tax Assessment Act 1997.

2. TR 2016/1 has been replaced by Taxation Ruling TR 2017/2, which applies from 1 July 2017. To the extent that the views contained in TR 2016/1 still apply, they have been incorporated into TR 2017/2.

3. The Commissioner has made a new determination of the effective life of certain depreciating assets which takes effect from 1 July 2017. This determination has been incorporated into Tables A and B in the Schedule to Taxation Ruling TR 2017/2.

Commissioner of Taxation
28 June 2017

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-B8V6TGB

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
TR 2014/4

Business Line:  PGI

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