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that the PDF version is the authorised consolidated version of this ruling and amending notices.This document has been Withdrawn.View the Withdrawal notice for this document.This Ruling, which applies from 1 July 2021, replaces TR 2020/3 (see paragraph 6 of this Ruling for further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).
S
| S | |||
| ASSET |
LIFE
(YEARS) |
REVIEWED |
DATE OF
APPLICATION |
| Saws, bench and mitre, portable | 7 | * | 1 Jul 2008 |
| Security and monitoring assets: | |||
| Access control systems: | |||
| Code pads | 5 | * | 1 Jul 2004 |
| Door controllers | 5 | * | 1 Jul 2004 |
| Readers: | |||
| Proximity | 7 | * | 1 Jul 2004 |
| Swipe card | 3 | * | 1 Jul 2004 |
| Ballistic and blast resistant screens and barriers (including fixed and rising types) not forming part of the building | 20 | * | 1 Jul 2014 |
| CCTV systems: | |||
| Cameras | 4 | * | 1 Jul 2004 |
| Monitors | 4 | * | 1 Jul 2004 |
| Recorders: | |||
| Digital | 4 | * | 1 Jul 2004 |
| Time lapse | 2 | * | 1 Jul 2004 |
| Switching units (including multiplexers) | 5 | * | 1 Jul 2004 |
| Security systems: | |||
| Code pads | 5 | * | 1 Jul 2004 |
| Control panels | 5 | * | 1 Jul 2004 |
| Detectors (including glass, passive infrared and vibration) | 5 | * | 1 Jul 2004 |
| Global system for mobiles (GSM) units | 5 | * | 1 Jul 2004 |
| Noise maker (including alarms and bells) | 5 | * | 1 Jul 2004 |
| Sewing machines | 10 | * | 1 Jul 2014 |
| Signage for business identification (including lighting for signs) - see Table B Advertising signs | |||
| Silos: | |||
| Bulk handling: | |||
| Ancillary mechanical assets (including augers, bucket elevators, conveyors etc) | 15 | * | 1 Jul 2014 |
| Concrete construction | 50 | * | 1 Jan 2004 |
| Galvanised construction | 30 | * | 1 Jan 2004 |
| Steel construction | 40 | * | 1 Jan 2004 |
| Solar photovoltaic electricity generation system assets | 20 | * | 1 Jul 2011 |
| Spas used as plant in a business (incorporating blowers, controls, filters, heaters and pumps) | 17 | * | 1 Jul 2014 |
| Spray booths | 15 | * | 1 Jul 2014 |
| Stacks (chimney stacks, exhaust stacks, flues etc): | |||
| Concrete stacks (including concrete reinforced stacks) | 30 | * | 1 Jul 2014 |
| Flare stacks | 25 | * | 1 Jul 2014 |
| Reinforced plastic stacks | 25 | * | 1 Jul 2014 |
| Steel stacks (steel flues) | 20 | * | 1 Jul 2014 |
| Suitcases | 10 | * | 1 Jul 2013 |
| Swimming pool assets: | |||
| Chlorinators | 12 | * | 1 Jul 2004 |
| Cleaning assets | 7 | * | 1 Jul 2004 |
| Covers (including blankets) | 8 | * | 1 Jul 2019 |
| Filtration assets (including pumps) | 12 | * | 1 Jul 2004 |
| Heaters: | |||
| Electric | 15 | * | 1 Jul 2004 |
| Gas | 15 | * | 1 Jul 2004 |
| Solar | 20 | * | 1 Jul 2004 |
| Swimming pools (used as plant in a business): | |||
| Above-ground | 10 | * | 1 Jul 2005 |
| Concrete | 50 | * | 1 Jul 2005 |
| Fibreglass | 20 | * | 1 Jul 2005 |
| Switchboards | 20 | * | 1 Jul 2014 |
| Synthetic lawn surfaces | 5 | * | 1 Jul 2014 |
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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