Taxation Ruling
TR 2021/3
Income tax: effective life of depreciating assets (applicable from 1 July 2021)
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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that the PDF version is the authorised consolidated version of this ruling and amending notices.This document has been Withdrawn.View the Withdrawal notice for this document.This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further details).
Financial and insurance services - (62100 to 64200)
|
FINANCIAL AND INSURANCE SERVICES
(62100 to 64200) |
|
Banking, building society and credit union operations
(62210 to 62230) |
|||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Automatic teller machines (ATMs) - see Table B Automatic teller machines (ATMs) | |||
| Cheque processing machines (including proof machines, endorsers, MICR encoders, printers, readers, sorters and scanners) | 5 | * | 1 Jul 2019 |
| Cash handling assets: | |||
| Coin cabinets, secure coin storage units and coin trolleys | 15 | * | 1 Jul 2019 |
| Coin counters and sorters, and coin deposit machines (CDMs) | 10 | * | 1 Jul 2019 |
| Note counters and sorters | 8 | * | 1 Jul 2019 |
| Teller cash recyclers (TCRs), teller cash dispensers (TCDs), teller assist units (TAUs) and automated teller safes (ATSs) | 7 | * | 1 Jul 2019 |
| Weighing machines (such as coin scales, digital weighing machines, and note scales) | 7 | * | 1 Jul 2019 |
| EFTPOS machines and EFTPOS terminals (such as PIN pads) - see Table B Point of sale assets | |||
| Safes: | |||
| Safes (portable) | 40 | * | 1 Jul 2019 |
| Strongroom door and frame | 100 | 1 Jan 2001 | |
| Teller safes, counter safes and teller time-delay safes | 25 | * | 1 Jul 2019 |
| Vaults (demountable or portable) and demountable strongrooms | 100 | * | 1 Jul 2019 |
| Security assets: | |||
| Anti-jump barriers (cables or partitions) | 15 | * | 1 Jul 2019 |
| Ballistic and blast resistant screens and barriers (including fixed and rising types) not forming part of the building - see Table B Security and monitoring assets | |||
| Variable message signs, such as electronic FX boards and digital LED screens - see Table B Advertising signs | |||
Not issued as a draft
References
ATO references:
NO 1-P4Z8VU5
Previous Rulings/Determinations:
TR 2015/2
TR 2016/1
TR 2017/2
TR 2018/4
TR 2019/5
TR 2020/3
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)
IT(TP)A 1997 Subdiv 40-BB
TAA 1953
Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2021
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