Taxation Ruling

TR 2022/1

Income tax: effective life of depreciating assets (applicable from 1 July 2022)

  • 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).

F

F
ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Fences:
    Portable electric fences 20     *     1 Jul 2014
    Wire mesh (demountable used for partitioning purposes, including portable electric fences) 20     *     1 Jul 2014
Fire control and alarm assets:
    Alarms:
        Heat 6     *     1 Jul 2004
        Smoke 6     *     1 Jul 2004
    Detection and alarm systems:
        Alarm bells 12     *     1 Jul 2004
        Detectors:
            Aspirated smoke 12     *     1 Jul 2004
            Heat 20     *     1 Jul 2004
            Manual call point (addressable type only) 20     *     1 Jul 2004
            Multi type 20     *     1 Jul 2004
            Smoke 20     *     1 Jul 2004
        Fire indicator panels 12     *     1 Jul 2004
        Gas suppression cylinders 25     *     1 Jul 2004
    Emergency warning and intercommunication systems:
        Master emergency control panels 12     *     1 Jul 2004
        Speakers 12     *     1 Jul 2004
        Strobe lights 12     *     1 Jul 2004
        Warden intercom phones 12     *     1 Jul 2004
    Extinguishers 15     *     1 Jul 2004
    Hoses and nozzles 10     *     1 Jul 2004
    Pumps (including diesel and electric) 25     *     1 Jul 2004
    Stair pressurisation assets:
        AC variable speed drives (VSDs) 10     *     1 Jul 2004
        Pressurisation and extraction fans 25     *     1 Jul 2004
        Sensors 10     *     1 Jul 2004
Floor coverings (removable without damage):
    Carpets (excluding fixed carpet tiles) 8     *     1 Jul 2016
    Floating timber 15     *     1 Jul 2016
    Linoleum and vinyl 10     *     1 Jul 2016
Fogging machines (insecticide, including cold foggers and thermal foggers):
    Portable 6     *     1 Jul 2013
    Vehicle mounted 10     *     1 Jul 2013
Forklifts 11     *     1 Jul 2002
Forklift battery chargers 11     *     1 Jul 2013
Formwork, beams and props, steel 10     *     1 Jul 2008
Foundations for plant and machinery (integral to the operation of such plant and machinery, but not incorporated into the plant and machinery itself) 40     *     1 Jul 2014

References

ATO references:
NO 1-SY3H7A0

Previous Rulings/Determinations:
TR 2017/2
TR 2018/4
TR 2019/5
TR 2020/3
TR 2021/3

ISSN: 2205-6122

Subject References:
depreciation
depreciation rate
effective life

Business Line:  PGI

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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