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).

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ASSET LIFE
(YEARS) 		REVIEWED DATE OF
APPLICATION
Office furniture, freestanding:
    Bookcases:
        Metal 20     *     1 Jul 2005
        Timber 15     *     1 Jul 2005
    Cabinets (including credenzas, cupboards, filing, mapping, mobile, stationery and storage type):
        Metal 20     *     1 Jul 2005
        Timber/laminated 15     *     1 Jul 2005
    Chairs 10     *     1 Jul 2005
    Desks 20     *     1 Jul 2005
    Mobile storage units (compactus type) 25     *     1 Jul 2005
    Reception assets (including lobby chairs, desks, lounges, sofas and tables) 10     *     1 Jul 2005
    Screens 20     *     1 Jul 2005
    Tables:
        Boardroom 20     *     1 Jul 2005
        General 10     *     1 Jul 2005
    Workstations (including desks and partitions) 20     *     1 Jul 2005
Office machines and equipment:
    Electronic whiteboards 6     *     1 Jan 2001
    Enveloping machines 6     *     1 Jan 2001
    Facsimile machines 5     *     1 Jan 2001
    Letter folding and inserting machines (including envelope inserters and letter inserters - desktop/low volume units) 5     *     1 Jul 2013
    Mailing machines 5     *     1 Jan 2001
    Multi function machines (includes fax, copy, print and scan functions) 5     *     1 Jan 2001
    Photo copying machines 5     *     1 Jan 2001
    Projectors (including lenses) 5     *     1 Jul 2014
    Shredders 15     *     1 Jul 2005
    Trolleys 15     *     1 Jul 2005
    Whiteboards 10     *     1 Jul 2005

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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