Taxation Ruling

TR 2016/1A1 - Addendum

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

Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Taxation Ruling TR 2016/1 insert missing entries and remove the incorrect use of an asterisk.

TR 2016/1 is amended as follows:

1. Table A as at 1 July 2016 Effective Lives (Industry Categories)

Under the heading 'Soft drink, cordial and syrup manufacturing (12110)',

After:

            Ice storage bins, feed bins and rake bins 20   *   1 Jul 2016

Insert:

Packaging assets:               
        Filling and sealing assets:               
            Capping machines 15   *   1 Jul 2009
            Container dryers (incorporating air knives and blowers) 10   *   1 Jul 2009
            Cooling and warming tunnels 10   *   1 Jul 2009
            Filling machines (including bag in box fillers, cup fillers and aseptic fillers) 20   *   1 Jul 2009

2. Table B as at 1 July 2016 Effective Lives (Industry Categories)

Under the heading 'C',

Omit:

Barrier gates/boom gates - see Table B Boom gates        *       

Substitute:

Barrier gates/boom gates - see Table B Boom gates               

This Addendum applies on and from 1 July 2016.

Commissioner of Taxation
7 September 2016

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References

ATO references:
NO 1-7UKR4RA

ISSN: 2205-6122

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