Taxation Ruling
TR 2022/1
Income tax: effective life of depreciating assets (applicable from 1 July 2022)
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Please note that the PDF version is the authorised version of this ruling.This Ruling, which applies from 1 July 2022, replaces TR 2021/3 (see paragraph 6 of this Ruling for further details).
Ruling
Relying on this Ruling
This publication (excluding appendix) is a public ruling for the purposes of the Taxation Administration Act 1953. If this Ruling applies to you, and you correctly rely on it, we will apply the law to you in the way set out in this Ruling. That is, you will not pay any more tax or penalties or interest in respect of the matters covered by this Ruling. |
1. This Ruling explains the methodology used by the Commissioner of Taxation to make a determination of the effective life of depreciating assets under section 40-100 of the Income Tax Assessment Act 1997. [1]
2. The effective life of a depreciating asset is used to work out the asset's decline in value (depreciation for income tax purposes). [2]
3. The Commissioner makes the effective life determination having regard to the period the depreciating asset can be used for a purpose specified in subsection 40-100(5) (a specified purpose), one of which is use for a taxable purpose. [3] A deduction may be available under Division 40 for the depreciating asset's decline in value, to the extent that the asset is used for a taxable purpose (see section 40-25).
4. Tables A and B of this Ruling list the effective life determinations made to date.
5. You may choose to use the Commissioner's determination of the effective life of a depreciating asset or you may make your own estimate (see section 40-95). This Ruling's explanation of the methodology used by the Commissioner to make a determination of effective life may assist taxpayers who make their own estimate of the effective life of a depreciating asset.
6. This Ruling replaces Taxation Ruling TR 2021/3 Income tax: effective life of depreciating assets (applicable from 1 July 2021), which is withdrawn from 1 July 2022. Where the Commissioner's views in that Ruling still apply, they are incorporated into this Ruling.
Ruling
7. The Commissioner has made a determination of the effective life of certain depreciating assets, which takes effect from 1 July 2022. This determination has been incorporated into Tables A and B of this Ruling.
8. The date from which an effective life determined by the Commissioner applies is set out in the fourth column of Tables A and B.
9. If you first use a depreciating asset or have it installed ready for use within 5 years of the time (the relevant time):
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- you entered into the contract to acquire it
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- you started to construct it, or
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- you otherwise acquired it,
the effective life that applies is the one in force at the relevant time (see section 40-95).
10. If you do not start to use a depreciating asset or have it installed ready for use within the 5-year period, the effective life that applies is the one in force at the date you first use the depreciating asset or have it installed ready for use for any purpose (see section 40-95).
11. Table A is an industry category table. It lists assets that are specific to a particular industry or for which a particular effective life is appropriate because of the way the asset is used in that industry. Industry headings in Table A are generally drawn from the classification subject categories in the Australian and New Zealand Standard Industrial Classification (ANZSIC) codes.
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- You can only use the Table A entries for a listed industry if you are a participant of that industry.
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- If an asset either corresponds exactly to a description in Table A for the industry in which it is used or it satisfies the general description of an asset used in the functional process of that industry, the effective life is the life specified.
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- In some cases, an entry will contain an instruction to see a Table A entry for another industry. For the avoidance of doubt, if this applies to an asset in your industry, you can use the effective life specified for the relevant asset in the other industry, even though you do not participate in that other industry.
- For example, under the industry heading 'Cafes, restaurants, takeaway food services, pubs, taverns, bars and clubs (hospitality)', one of the asset entries says 'Poker/gaming assets - see Table A Casino operations'. In this case, if you operate a pub and have poker/gaming assets, you can use their effective lives specified for the casino operations industry.
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- If the particular asset is not listed under your industry heading in Table A, either specifically or under a general functional group or class, you can use a relevant effective life shown in Table B.
12. Table B is an asset category table which covers assets generally.
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- Taxpayers in an industry can only use Table B entries if the particular asset is not listed under the relevant industry heading in Table A.
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- If you do not use the asset in an industry specified in Table A and the asset corresponds to a description in Table B, the effective life is the life specified for that description.
13. You must be satisfied that an asset is a depreciating asset [4] before using an effective life determination in either Table A or B. An asset that is a depreciating asset for a particular taxpayer or industry may not necessarily be a depreciating asset for another taxpayer or industry.
14. If a particular asset is not listed in either Table A or B, it means the Commissioner has not made a determination of its effective life. You will need to work out its effective life yourself (see section 40-105 and paragraphs 47 to 50 of this Ruling).
To find an asset for a particular asset category, go to Effective lives (Industry category)
To find an asset using an alphabetical listing, go to Effective lives (By asset)
15. This Ruling applies from 1 July 2022. However, the Ruling does not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of the Ruling.
Appendix - Explanation
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This Explanation is provided as information to help you understand how the Commissioner's view has been reached. It does not form part of the binding public ruling. |
16. This Ruling is issued as part of an ongoing review of the Commissioner's effective life determinations.
17. Tables A and B are periodically updated to incorporate further effective life determinations made by the Commissioner as a result of effective life reviews. We consult industry bodies and interested taxpayers during effective life reviews. In some instances, we use reports prepared by independent consultants. An independent review panel also checks each review process to confirm the level of industry consultation was appropriate. The panel typically comprises representatives from:
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- the Australian Finance Industry Association
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- Chartered Accountants Australia and New Zealand
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- the Corporate Tax Association
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- National Australia Bank Finance, and
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- the Australian Taxation Office.
18. The Commissioner has made a determination of the effective life of certain depreciating assets in Tables A and B to take effect from 1 July 2022. The Table A assets in the new determination are assets used in the following industries and industry activities:
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- casino operations
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- clothing manufacturing
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- salt manufacturing and refining
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- wooden furniture and upholstered seat manufacturing.
19. The new determination also amends some entries in Table A and inserts new entries in Table B. These changes are also incorporated into the tables.
20. If a particular asset is not listed in either Table A or B, it means the Commissioner has not made a determination of its effective life; it does not indicate that the asset is not a depreciating asset. In some cases, it is due to the difficulties in determining an appropriate effective life that accurately reflects all the facts and circumstances particular to that asset. In these cases, you need to work out its effective life yourself (see section 40-105 and paragraphs 47 to 50 of this Ruling).
21. An asset that is a depreciating asset for a particular taxpayer or industry may not necessarily be a depreciating asset for another taxpayer or industry. This is typically the case where the asset is an improvement to land. For example, effective lives have been determined for swimming pools in Table B. However, these effective life determinations only apply to the swimming pools that are used as plant in a business. A residential property owner cannot use these effective life determinations because a swimming pool used in a residential rental property setting is not plant (and not a depreciating asset) to which Division 40 applies.
How does the Commissioner determine the effective life of a depreciating asset?
22. The Commissioner makes a determination of the effective life of a depreciating asset by estimating the period (in years, including fractions of years) the asset can be used by any entity for a specified purpose. If relevant for the asset, the Commissioner:
- (a)
- assumes it will be subject to wear and tear at a rate that is reasonable for the Commissioner to assume
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- assumes it will be maintained in reasonably good order and condition, and
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- has regard to the period within which it is likely to be scrapped, sold for no more than scrap value or abandoned (see section 40-100).
23. In determining an effective life, the Commissioner considers the factors listed in paragraph 24 of this Ruling. The list is not exhaustive. For example, in determining the effective life of horticultural plants, issues such as crop management techniques (crop regeneration and topworking or reworking where trees are cut back to the stump) were taken into account along with the listed factors. Where appropriate, each factor is considered based on historical information and future expectations. No single factor is necessarily conclusive and the relative importance of each varies depending on the asset.
24. The factors the Commissioner considers include:
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- physical life
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- manufacturing specifications and engineering information
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- use of the asset in a particular industry
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- use of the asset in different industries
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- industry standards
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- repairs and maintenance
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- retention period
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- obsolescence
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- scrapping or abandonment practices
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- lease periods
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- financial analysis, and
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- market value.
25. An asset can be used while it continues to have a physical life; that is, until it is physically exhausted.
26. An effective life determination is an estimate of the period the asset can be used by any entity for a specified purpose. Often an asset is not used for a specified purpose for the whole of its physical life. For example, an asset may be retired from use for a specified purpose but be retained as a source of spare parts. In this instance, the effective life ends when the asset is retired.
27. An asset's physical life can be seen as the outer limit of its effective life. This is a useful starting point for analysing the factors to be considered in determining the effective life of the asset.
Manufacturing specifications and engineering information
28. The effective life of a new asset cannot be based solely on evidence of past use of the asset. The current design may differ for various reasons including advances in technology and different construction materials. Analysing manufacturing specifications and engineering information for the new asset is important when estimating its effective life.
Use of the asset in a particular industry
29. How intensively an asset is used in an industry would have a direct impact on the asset's effective life. In establishing the industry norm, the relevant industry is consulted where possible.
Use of the asset in different industries
30. The use of an asset in different industries is another important factor. For example, using a car in the taxi industry would subject the car to more wear and tear than using a car in another industry. The effective life determined by the Commissioner in each industry would be different, reflecting that different use.
31. Industry standards and regulations may dictate when a particular asset must be retired from use in an industry.
32. There may also be industry standards and regulations that set the level of repairs and maintenance that must be carried out.
33. It might be suggested that the life of an asset can be extended indefinitely if there is unlimited expenditure on repairs and maintenance. However, paragraph 40-100(6)(b) requires the Commissioner to assume that an asset will be maintained only in reasonably good order and condition. Therefore, an asset's effective life is generally limited by the period it is economic to maintain the asset, even though it is still possible to continue repairs and maintenance to keep it operational.
34. An asset can be subject to such a level of repair and maintenance that it has been wholly or substantially physically replaced. In those circumstances, the effective life of the asset is considered to have ended and a new asset to have come into place.
35. The effective life of an asset is the total period it can be used by any entity for a specified purpose. The retention period is the time a particular taxpayer expects to hold a depreciating asset for any purpose. For example, it is common practice in some businesses to dispose of a car after it has been driven a pre-determined number of kilometres. That would be the retention period for that taxpayer. The effective life of the car, however, would end only when the car cannot be used by any taxpayer for a specified purpose.
36. The Commissioner considers obsolescence when determining the effective life of an asset.
37. An asset may become obsolete because of commercial or technological reasons.
38. Commercial obsolescence may occur if demand for the goods produced by the asset stops because consumers choose not to buy them or government regulation affects market demand. It may also occur if the raw material the asset processes becomes unavailable.
39. Technological obsolescence may occur when technology advances and another asset becomes better suited for the relevant purpose for which an existing asset is used. Even so, an asset's effective life does not necessarily end with each technological advance. A taxpayer can still use an asset for a specified purpose even though a newer model exists.
40. There are 2 types of commercial and technological obsolescence - one can be predicted at the time the asset is first used and one is unpredictable and emerges later. Unpredictable obsolescence cannot be taken into account when estimating effective life. Predicted obsolescence would only be taken into account if it is expected with a high level of certainty across a majority of users.
41. Taxpayers faced with predicted obsolescence that would arise only because of their particular use of the asset may choose to work out the effective life of the asset themselves, rather than adopt the effective life determined by the Commissioner.
Scrapping or abandonment practices
42. Once a taxpayer has scrapped or abandoned an asset, it is presumed it can no longer be used by anyone for a specified purpose. The scrapping of an asset can demonstrate that the asset is either physically exhausted or obsolete. The abandonment of an asset can demonstrate that it is too difficult or costly to remove it from its place of operation.
43. This factor is only relevant to the Commissioner's determination of the effective life of an asset if a general scrapping or abandonment practice can be established across users of the asset.
44. Effective life is the period a depreciating asset can be used by any entity for a specified purpose, so it is unlikely that an asset would be leased for a period greater than its effective life. This generally suggests that the effective life of an asset is no shorter than the period it is leased.
45. As with lease periods, economic or financial analysis indicating the period over which an asset is intended for use suggests the effective life is no shorter than that period. In many instances, the analysis may only reflect the capital cost recovery period or the term of a contract, when the asset may in fact be used for a specified purpose by any entity for a much longer time.
46. The defining character of a depreciating asset is that its value actually falls, or is expected to fall, over time. Therefore, analysing the decline of market value of an asset class is important to the determination of the asset's effective life.
Working out your own effective life
47. The Commissioner only takes account of normal industry practice when estimating effective life. Taxpayers who choose to self-assess, however, can take account of their own particular circumstances of use (see section 40-105).
48. The Commissioner only makes determinations of the effective life of new assets. If you purchase a second-hand asset where its condition justifies a shorter life than that determined by the Commissioner, you can self-assess. A taxpayer who self-assesses the effective life of a depreciating asset acquired after 11:45 am, by legal time in the Australian Capital Territory, on 21 September 1999 is no longer required to assume that it is new.
49. Taxpayers can recalculate the effective life of a depreciating asset if the effective life used is no longer relevant because of changed circumstances relating to the use of the asset (see section 40-110). An example could be unpredicted obsolescence or more or less rigorous use than anticipated.
50. For some assets, you do not have a choice to work out the effective life yourself or use an effective life determined by the Commissioner. In addition, the effective life of these assets cannot be recalculated. The choice is not generally available:
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- for most intangible depreciating assets (see subsection 40-95(7))
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- if a depreciating asset was acquired from an associate who claimed, or could have claimed, deductions for the asset's decline in value (see subsection 40-95(4))
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- for a depreciating asset that you started to hold but the user of the asset did not change or is an associate of the former user; for example, under a sale and leaseback arrangement (see subsection 40-95(5)), and
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- if there has been roll-over relief (see subsection 40-345(2)).
51. Where a capped life for a depreciating asset is available (see section 40-102), the asset is marked in Tables A or B with a hash (#) in the third column.
52. From the 2012-13 income year, a capped life of 10 years is available for eligible shipping vessels but only if certain conditions are met (see table item 10 of subsection 40-102(4) and subsection 40-102(4A)).
53. These conditions mean that not all shipping vessels listed under the Water transport and support services (48100 to 48200 and 52110 to 52190) sub-category in Table A will be eligible for the capped life at any given time.
54. For this reason, no shipping vessels have been marked with a hash (#) in the third column of Table A as would occur with other assets that have no additional eligibility requirements for a capped life.
55. Taxpayers need to determine if a particular shipping vessel they hold meets the eligibility requirements of subsections 40-102(4) and (4A) to determine if the capped life can be applied.
56. The effective life shown in Tables A or B is a component of the formula under which the decline in value of the depreciating asset is calculated. [5]
New and reviewed effective lives
57. Assets already reviewed as part of the ongoing review of the Commissioner's effective life determinations are marked with an asterisk (*) in the third column of Tables A and B.
Important terms and definitions in Tables A and B
58. The terms 'freestanding' and 'fixed' describe certain residential rental property assets listed in Table A. 'Freestanding' is also used in Table B for 'light fittings and freestanding lights'. For the purposes of the determination of the effective life of such assets, the terms have the following meanings:
Freestanding - are items designed to be portable or movable; any attachment to the premises is only for the item's temporary stability.
Fixed - are items annexed or attached by any means (for example screws, nails, bolts, glue, adhesive, grout or cement) but not merely for temporary stability.
59. The terms 'environmental control structure' and 'protective structure' are used to describe certain agricultural assets listed in Table A. For the determination of effective life of such assets, the terms have the following meanings:
Environmental control structure - is a structure designed to provide a protective environment within which the operator is able to monitor and manipulate factors influencing the growing environment. This includes factors such as temperature, humidity, air movement, light, water and pests to enable the greatest efficiency in producing the desired product.
Protective structure - is a structure used primarily and principally for protecting a growing product from one or more natural elements such as sun, hail, birds and wind.
60. The terms 'including', 'includes' and 'incorporating' have been used in describing certain assets in Tables A and B. Where used, the terms have the following meanings:
Including or includes - when an entry is described as 'including' or 'includes' other items, these other items are separate assets, each with the same effective life. For example, the entry 'Refrigeration assets (including chillers, compressors, condensers, evaporative coolers and pumps)' indicates that chillers, compressors, condensers, evaporative coolers and pumps are separate assets within the class of refrigeration assets, all of which have the specified effective life.
Incorporating - when an entry is described as 'incorporating' other items, these other items are not separate assets but are merely components of the one single asset being described. For example, the entry 'Conveyor systems (incorporating structures, belts, gearboxes and motors)' indicates that the structures, belts, gearboxes and motors are components of the one asset, the conveyor system.
61. The terms 'hire cars' and 'rental cars' have been used to describe certain assets in Tables A and B. For the determination of effective life of such assets, the terms have the following meanings:
Hire car - is a passenger car hired with a driver, not being a taxi.
Rental car - is a passenger car hired, leased or rented for short-term use without a driver.
© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
ANZSIC categories in Table A
| Page | |
| AGRICULTURE, FORESTRY AND FISHING (01110 to 05290) | 18 |
| Agriculture | 20 |
| Aquaculture | 36 |
| Beef cattle farming | 29 |
| Beef cattle feedlots | 30 |
| Beekeeping | 36 |
| Dairy cattle farming | 31 |
| Fishing | 38 |
| Forestry and logging | 38 |
| Forestry support services | 39 |
| Fruit and tree nut growing | 26 |
| Grain-sheep or grain-beef cattle farming | 31 |
| Horse farming | 35 |
| Mushroom growing | 24 |
| Nursery and floriculture production | 22 |
| Other agriculture and fishing support services | 39 |
| Pig farming | 35 |
| Poultry farming for breeding, eggs and meat | 33 |
| Poultry hatcheries | 34 |
| Sheep farming | 29 |
| Vegetable growing (under cover) | 24 |
| Vegetable growing (outdoors) and sugar cane growing | 25 |
| MINING (06000 to 10900) | 40 |
| Coal mining | 43 |
| Construction material mining | 50 |
| Gold ore mining | 48 |
| Iron ore mining | 48 |
| Mineral sand mining | 49 |
| Mineral exploration services | 52 |
| Nickel ore mining | 50 |
| Oil and gas extraction | 45 |
| Other mining support services | 52 |
| Other non-metallic mineral mining and quarrying n.e.c. | 51 |
| Petroleum exploration services | 51 |
| MANUFACTURING (11110 to 25990) | 54 |
| Adhesive manufacturing | 130 |
| Aircraft manufacturing and repair services | 171 |
| Alumina production | 155 |
| Aluminium smelting | 156 |
| Bakery product manufacturing | 77 |
| Bakery product manufacturing (non-factory based) | 79 |
| Basic inorganic chemical manufacturing | 120 |
| Basic organic chemical manufacturing | 117 |
| Beer manufacturing (except non-alcoholic beer) | 97 |
| Boiler, tank and other heavy gauge metal container manufacturing | 161 |
| Cement manufacturing | 134 |
| Ceramic product manufacturing | 133 |
| Cereal and pasta product manufacturing | 75 |
| Cleaning compound manufacturing | 127 |
| Clothing manufacturing | 104 |
| Concrete product manufacturing | 138 |
| Confectionery manufacturing | 83 |
| Cured meat and smallgoods manufacturing | 60 |
| Dairy product manufacturing | 62 |
| Explosive manufacturing | 127 |
| Fertiliser manufacturing | 125 |
| Footwear manufacturing | 104 |
| Fruit and vegetable processing | 65 |
| Glass and glass product manufacturing | 131 |
| Grain mill product manufacturing | 73 |
| Human pharmaceutical and medicinal product manufacturing | 125 |
| Industrial gas manufacturing | 114 |
| Iron smelting and steel manufacturing | 142 |
| Jewellery and silverware manufacturing | 174 |
| Knitted product manufacturing | 103 |
| Leather tanning, fur dressing and leather product manufacturing | 102 |
| Log sawmilling and timber dressing | 104 |
| Meat processing | 54 |
| Metal coating and finishing | 161 |
| Motor vehicle body and trailer manufacturing | 169 |
| Motor vehicle manufacturing | 162 |
| Natural rubber product manufacturing | 131 |
| Natural textile manufacturing | 102 |
| Non-ferrous metal casting | 157 |
| Oil and fat manufacturing | 70 |
| Other basic chemical product manufacturing n.e.c. | 127 |
| Other fabricated metal product manufacturing n.e.c. | 162 |
| Other food product manufacturing n.e.c. | 88 |
| Other manufacturing n.e.c. | 174 |
| Other motor vehicle parts manufacturing | 169 |
| Other non-metallic mineral product manufacturing | 142 |
| Other professional and scientific equipment manufacturing n.e.c. | 173 |
| Other transport equipment manufacturing n.e.c. | 172 |
| Other wood product manufacturing | 105 |
| Paint and coatings manufacturing | 130 |
| Paper stationery manufacturing | 108 |
| Petroleum refining | 112 |
| Photographic, optical and ophthalmic equipment manufacturing | 173 |
| Plaster product manufacturing | 136 |
| Plywood and veneer manufacturing | 105 |
| Polymer film and sheet packaging material manufacturing | 127 |
| Poultry processing | 59 |
| Prepared animal and bird feed manufacturing | 84 |
| Printing | 109 |
| Printing support services | 111 |
| Pulp, paper and converted paper product manufacturing | 107 |
| Railway rolling stock manufacturing and repair services | 169 |
| Ready-mixed concrete manufacturing | 137 |
| Reconstituted wood product manufacturing | 106 |
| Rigid and semi-rigid polymer product manufacturing | 128 |
| Rope, cordage and twine manufacturing | 103 |
| Sanitary paper product manufacturing | 108 |
| Soft drink, cordial and syrup manufacturing | 95 |
| Spirit manufacturing | 98 |
| Spring and wire product manufacturing | 161 |
| Steel coil roll forming, slitting, blanking and sheet metal forming | 158 |
| Sugar manufacturing | 79 |
| Textile finishing and other textile product manufacturing | 103 |
| Textile floor covering manufacturing | 103 |
| Wine and other alcoholic beverage manufacturing | 99 |
| Wool scouring | 102 |
| Wooden furniture and upholstered seat manufacturing | 173 |
| ELECTRICITY, GAS, WATER AND WASTE SERVICES (26110 to 29220) | 175 |
| Electricity supply | 175 |
| Gas supply | 179 |
| Sewerage and drainage services | 181 |
| Solid waste collection services | 183 |
| Waste remediation and materials recovery services | 184 |
| Waste treatment and disposal services | 184 |
| Water supply | 179 |
| CONSTRUCTION (30110 to 32990) | 185 |
| Other heavy and civil engineering construction | 187 |
| WHOLESALE TRADE (33110 to 38000) | 187 |
| Commission-based wholesaling | 190 |
| Petroleum product wholesaling | 188 |
| Wool wholesaling | 188 |
| RETAIL TRADE (39110 to 43209) | 191 |
| Food retailing | 194 |
| Fuel retailing | 192 |
| Motor vehicle tyre or tube retailing | 191 |
| Other store-based retailing | 196 |
| Supermarket and grocery stores | 194 |
| ACCOMMODATION AND FOOD SERVICES (44000 to 45302) | 196 |
| Accommodation | 196 |
| Cafes, restaurants, takeaway food services, pubs, taverns, bars and clubs (hospitality) | 198 |
| TRANSPORT POSTAL AND WAREHOUSING (46100 to 53090) | 199 |
| Airport operations and other air transport support services | 209 |
| Courier pick-up and delivery services | 208 |
| Other air and space transport | 206 |
| Other transport n.e.c. | 207 |
| Other transport support services n.e.c. | 210 |
| Other warehousing and storage services | 210 |
| Pipeline transport | 207 |
| Postal services | 208 |
| Rail freight and passenger transport services | 201 |
| Road transport | 199 |
| Scenic and sightseeing transport | 206 |
| Tramway and light rail passenger transport services | 200 |
| Water transport and support services | 203 |
| INFORMATION MEDIA AND TELECOMMUNICATIONS (54110 to 60200) | 211 |
| Electronic information storage services | 220 |
| Internet publishing and broadcasting | 218 |
| Library and other information services | 221 |
| Motion picture and video activities | 212 |
| Motion picture exhibition | 214 |
| Radio broadcasting | 215 |
| Telecommunications services | 218 |
| Television broadcasting | 216 |
| FINANCIAL AND INSURANCE SERVICES (62100 to 64200) | 221 |
| Banking, building society and credit union operations | 221 |
| RENTAL, HIRING AND REAL ESTATE SERVICES (66110 to 67200) | 221 |
| Non-residential property operators | 229 |
| Rental and hiring services (except real estate) | 222 |
| Residential property operators | 224 |
| PROFESSIONAL, SCIENTIFIC AND TECHNICAL SERVICES (69100 to 70000) | 230 |
| Advertising services | 235 |
| Professional photographic services | 235 |
| Scientific research services | 230 |
| Scientific testing and analysis services | 232 |
| Surveying and mapping services | 231 |
| Veterinary services | 235 |
| ADMINISTRATIVE AND SUPPORT SERVICES (72110 to 73200) | 236 |
| Building and other industrial cleaning services | 236 |
| Gardening services | 237 |
| Packaging services | 238 |
Commissioner of Taxation
29 June 2022
References
ATO references:
NO 1-SY3H7A0
Previous Rulings/Determinations:
TR 2017/2
TR 2018/4
TR 2019/5
TR 2020/3
TR 2021/3
Subject References:
depreciation
depreciation rate
effective life
Legislative References:
ITAA 1997 Div 40
ITAA 1997 40-25
ITAA 1997 40-25(7)
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 40-102(5)
ITAA 1997 40-105
ITAA 1997 40-110
ITAA 1997 40-345(2)
IT(TP)A 1997 Subdiv 40-BB
Other References:
Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2022
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