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).
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 | |||
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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