Taxation Ruling

TR 2019/5

Income tax: effective life of depreciating assets (applicable from 1 July 2019)

  • Please note that the PDF version is the authorised consolidated version of this ruling and amending notices.
    This Ruling, which applies from 1 July 2019, replaces TR 2018/4 (see paragraph 5 of this Ruling for further details).
    This document has changed over time. View its history.

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ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Laboratory assets used in quality control, sample checking etc:
    Automated and electronically based laboratory assets (including analysers, refractometers, spectrometry machines etc) 7     *     1   Jul   2014
    Other laboratory assets (including autoclaves, centrifuges, microscopes, ovens etc) 10     *     1   Jul   2014
Laser cutting machines 10     *     1   Jul   2014
Levels:
    Automatic optical levels (dumpy levels) 7     *     1   Jul   2015
    Laser levels:
        Grade laying (dial-in grade) 6     *     1   Jul   2015
        Laser plummets 5     *     1   Jul   2015
        Line and plumb/point and cross line 4     *     1   Jul   2015
        Pipe laying 6     *     1   Jul   2015
        Rotating 6     *     1   Jul   2015
        Tunnelling and plumbing 6     *     1   Jul   2015
Libraries (professional) 10     *     1   Jul   2014
Lift slab assets (incorporating spreader bars, clutches, pulleys and cables) 5     *     1   Jul   2008
Lifts (including dumbwaiters, hydraulic lifts and traction lifts) 30     *     1   Jan   2003
Light fittings and freestanding lights (excluding hardwired light fittings) 10     *     1   Jul   2016
Light shades (removable) 5     *     1   Jul   2016
Lighting control systems (microprocessor based) 5     *     1   Jul   2014
Loading bay assets:
    Dock levellers 20     *     1   Jul   2005
    Pallet jacks and pallet trucks 10     *     1   Jul   2005
    Scissor lifts 15     *     1   Jul   2005
Lockers, freestanding 20     *     1 Jul 2019

Not previously issued as a draft

References

ATO references:
NO 1-HHM96UX

Previous Rulings/Determinations:
TR 2013/4
TR 2014/4
TR 2015/2
TR 2016/1
TR 2017/2
TR 2018/4

ISSN: 2205-6122

Subject References:
depreciation
depreciation rate
effective life

Business Line:  PGI

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 2019 (No. 1)

TR 2019/5 history
  Date: Version: Change:
  26 June 2019 Original ruling  
You are here 22 April 2020 Consolidated ruling  

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