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).
Effective life (by industry)
Table A 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 are generally drawn from the classification subject categories in the ANZSIC codes. You may only use the effective life for an asset listed in this table if you are a participant of the industry under which the asset is listed.
| Agriculture, forestry and fishing | 01110 to 05290 |
| Mining | 06000 to 10900 |
| Manufacturing | 11110 to 25990 |
| Electricity, gas, water and waste services | 26110 to 29220 |
| Construction | 30110 to 32990 |
| Wholesale trade | 33110 to 38000 |
| Retail trade | 39110 to 43209 |
| Accommodation and food services | 44000 to 45302 |
| Transport postal and warehousing | 46100 to 53090 |
| Information media and telecommunications | 54110 to 60200 |
| Financial and insurance services | 62100 to 64200 |
| Rental, hiring and real estate services | 66110 to 67200 |
| Professional, scientific and technical services | 69100 to 70000 |
| Administrative and support services | 72110 to 73200 |
| Education and training | 80100 to 82200 |
| Health care and social assistance | 84010 to 87900 |
| Arts and recreation services | 89100 to 92099 |
| Other services | 94110 to 96030 |
If you cannot find your asset in this listing or you are not a participant of that industry, go to Table B .
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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