Taxation Ruling
TR 2018/4
Income tax: effective life of depreciating assets (applicable from 1 July 2018)
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Wholesale trade - (33110 to 38000)
|
WHOLESALE TRADE
(33110 to 38000) |
|
Wool wholesaling
(33110) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Wool presses | 20 | * | 1 Jul 2006 |
|
Petroleum product wholesaling
(33210) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Bulk fuel regional depot assets (excluding LPG assets): | |||
| Cathodic protection systems: | |||
| Sacrificial anode | 10 | * | 1 Jul 2010 |
| Impressed current | 20 | * | 1 Jul 2010 |
| Effluent treatment system (incorporating pumps, motors and electronic circuitry) | 15 | * | 1 Jul 2010 |
| Electric pumps | 10 | * | 1 Jul 2010 |
| Hoses | 2 | * | 1 Jul 2010 |
| Loading gantries and racks (incorporating meters and metering systems) | 15 | * | 1 Jul 2010 |
| Petroleum product storage tanks - fibreglass and steel | 20 | * | 1 Jul 2010 |
| Rigid fuel tank truck assets: | |||
| Aluminium tanks or barrels | 10 | * | 1 Jul 2010 |
| Filters | 5 | * | 1 Jul 2010 |
| Metering systems | 5 | * | 1 Jul 2010 |
| Overfill protection systems | 10 | * | 1 Jul 2010 |
| Pumping systems: | |||
| Guns and nozzles | 3 | * | 1 Jul 2010 |
| Hose reels | 7 | * | 1 Jul 2010 |
| Hoses | 2 | * | 1 Jul 2010 |
| Hydraulically driven pumps | 8 | * | 1 Jul 2010 |
| Pipes and fittings | 10 | * | 1 Jul 2010 |
| Tailgate loaders | 15 | * | 1 Jul 2010 |
| Single or multi product gasoline and diesoline dispensers (incorporating meters, electronic circuitry, LCD displays, cash presets, hoses, automatic nozzles and steel cabinets and, where applicable, vapour recovery monitoring and collection systems) | 10 | * | 1 Jul 2010 |
| Single or multi product gasoline and diesoline pumps (incorporating pump units, meter, electronic circuitry, LCD displays, cash presets, hoses, automatic nozzles, steel cabinets and, where applicable, vapour recovery monitoring and collection systems) | 10 | * | 1 Jul 2010 |
| Submersible turbine pumps | 8 | * | 1 Jul 2010 |
| Underground distribution piping systems (incorporating pipes, fittings and manholes) fibreglass and steel | 20 | * | 1 Jul 2010 |
| Bulk fuel terminal assets (excluding LPG assets): | |||
| Automatic tank gauges | 10 | * | 1 Jul 2010 |
| Effluent treatment systems (incorporating air pump, pipes, separator and tank) | 10 | * | 1 Jul 2010 |
| Fire protection systems (incorporating auxiliary monitors, fire and UV detectors, fire indicator anels, fire retardant lines and foam storage tank) | 15 | * | 1 Jul 2010 |
| Hoses | 2 | * | 1 Jul 2010 |
| Loading and unloading arms (incorporating balance mechanisms, couplers, drop hoses and swivels) | 10 | * | 1 Jul 2010 |
| Marketing pumps | 7 | * | 1 Jul 2010 |
| Meters and metering systems | 7 | * | 1 Jul 2010 |
| Overfill protection systems | 10 | * | 1 Jul 2010 |
| Product piping (steel) | 20 | * | 1 Jul 2010 |
| Terminal automation equipment | 10 | * | 1 Jul 2010 |
| Vapour recovery units | 15 | * | 1 Jul 2010 |
| LPG depot and terminal assets: | |||
| Automatic tank gauges | 10 | * | 1 Jul 2010 |
| Cathodic protection systems: | |||
| Sacrificial anode | 10 | * | 1 Jul 2010 |
| Impressed current | 20 | * | 1 Jul 2010 |
| Depot and terminal storage vessels - aboveground and underground | 30 | * | 1 Jul 2010 |
| Electronic scales | 10 | * | 1 Jul 2010 |
| Forklift fuel tanks: | |||
| Galvanised steel or steel tanks coated with zinc rich enamel | 15 | * | 1 Jul 2010 |
| Aluminium tanks | 12 | * | 1 Jul 2010 |
| Hoses | 5 | * | 1 Jul 2010 |
| In-situ permanently installed cylinders | 30 | * | 1 Jul 2010 |
| Leak detection systems | 8 | * | 1 Jul 2010 |
| Leisure market cylinders (4.5 and 9 kgs capacity) | 15 | * | 1 Jul 2010 |
| Loading arms: | |||
| Terminal | 10 | * | 1 Jul 2010 |
| Marine | 25 | * | 1 Jul 2010 |
| LPG fleet refuelling facility: | |||
| Dispenser | 10 | * | 1 Jul 2010 |
| Guns and nozzles | 3 | * | 1 Jul 2010 |
| Hoses | 5 | * | 1 Jul 2010 |
| Meters | 7 | * | 1 Jul 2010 |
| Piping | 20 | * | 1 Jul 2010 |
| Pump sets | 10 | * | 1 Jul 2010 |
| Storage tanks | 30 | * | 1 Jul 2010 |
| Valves | 10 | * | 1 Jul 2010 |
| LPG tank truck assets: | |||
| LPG storage tanks | 20 | * | 1 Jul 2010 |
| Metering systems | 7 | * | 1 Jul 2010 |
| Pumping systems: | |||
| Guns and nozzles | 3 | * | 1 Jul 2010 |
| Hoses | 5 | * | 1 Jul 2010 |
| Hose reels | 7 | * | 1 Jul 2010 |
| Pipes and fittings | 7 | * | 1 Jul 2010 |
| Pumps | 7 | * | 1 Jul 2010 |
| Valves | 7 | * | 1 Jul 2010 |
| Product piping systems: | |||
| Pipes | 20 | * | 1 Jul 2010 |
| Valves | 10 | * | 1 Jul 2010 |
| Pumps | 7 | * | 1 Jul 2010 |
| Stillages | 5 | * | 1 Jul 2010 |
| Vapour recovery units and vapour compressors | 7 | * | 1 Jul 2010 |
| Weighbridges | 25 | * | 1 Jul 2010 |
|
Commission-based wholesaling
(38000) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Sale yards (used by stock and station agents) | 30 | * | 1 Jul 2014 |
References
ATO references:
NO 1-B8V6TGB
Related Rulings/Determinations:
TR 2018/4W
TR 2013/4
TR 2014/4
TR 2015/2
TR 2016/1
TR 2017/2
Subject References:
depreciation
depreciation rate
effective life
Legislative References:
ITAA 1997
ITAA 1997 Div 40
ITAA 1997 40-25
ITAA 1997 40-70(1)
ITAA 1997 40-72(1)
ITAA 1997 40-75(1)
ITAA 1997 40-95
ITAA 1997 40-95(4)
ITAA 1997 40-95(5)
ITAA 1997 40-95(7)
ITAA 1997 40-100
ITAA 1997 40-100(5)
ITAA 1997 40-100(6)(b)
ITAA 1997 40-102
ITAA 1997 40-102(4)
ITAA 1997 40-102(4A)
ITAA 1997 40-105
ITAA 1997 40-110
ITAA 1997 40-345(2)
TAA 1953
Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2018 (No. 1)
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