Taxation Ruling
TR 2020/3
Income tax: effective life of depreciating assets (applicable from 1 July 2020)
-
Please note that the PDF version is the authorised consolidated version of this ruling and amending notices.This document has been Withdrawn.View the Withdrawal notice for this document.This Ruling, which applies from 1 July 2020, replaces TR 2019/5 (see paragraph 5 of this Ruling for further details).
O
| O | |||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Office furniture, freestanding: | |||
| Bookcases: | |||
| Metal | 20 | * | 1 Jul 2005 |
| Timber | 15 | * | 1 Jul 2005 |
| Cabinets (including credenzas, cupboards, filing, mapping, mobile, stationery and storage type): | |||
| Metal | 20 | * | 1 Jul 2005 |
| Timber/laminated | 15 | * | 1 Jul 2005 |
| Chairs | 10 | * | 1 Jul 2005 |
| Desks | 20 | * | 1 Jul 2005 |
| Mobile storage units (compactus type) | 25 | * | 1 Jul 2005 |
| Reception assets (including lobby chairs, desks, lounges, sofas and tables) | 10 | * | 1 Jul 2005 |
| Screens | 20 | * | 1 Jul 2005 |
| Tables: | |||
| Boardroom | 20 | * | 1 Jul 2005 |
| General | 10 | * | 1 Jul 2005 |
| Workstations (including desks and partitions) | 20 | * | 1 Jul 2005 |
| Office machines and equipment: | |||
| Electronic whiteboards | 6 | * | 1 Jan 2001 |
| Enveloping machines | 6 | * | 1 Jan 2001 |
| Facsimile machines | 5 | * | 1 Jan 2001 |
| Letter folding and inserting machines (including envelope inserters and letter inserters - desktop/low volume units) | 5 | * | 1 Jul 2013 |
| Mailing machines | 5 | * | 1 Jan 2001 |
| Multi function machines (includes fax, copy, print and scan functions) | 5 | * | 1 Jan 2001 |
| Photo copying machines | 5 | * | 1 Jan 2001 |
| Projectors (including lenses) | 5 | * | 1 Jul 2014 |
| Shredders | 15 | * | 1 Jul 2005 |
| Trolleys | 15 | * | 1 Jul 2005 |
| Whiteboards | 10 | * | 1 Jul 2005 |
Not previously issued as a draft
References
ATO references:
NO 1-L24N0H0
Previous Rulings/Determinations:
TR 2020/3W
TR 2014/4
TR 2015/2
TR 2016/1
TR 2017/2
TR 2018/4
TR 2019/5
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 2020 (No. 2)
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
