Taxation Ruling
IT 2181W - Notice of Withdrawal
Income tax: depreciation: investment allowance - lift well
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Please note that the PDF version is the authorised version of this withdrawal notice.
FOI status:
may be releasedNotice of Withdrawal
Taxation Ruling IT 2181 is withdrawn with effect from today.
1. Taxation Ruling IT 2181 explains whether a lift well is plant for the purposes of depreciation and investment allowance (known as development allowance from 30 June 1992).
2. The former paragraph 82AB(1)(d) of the Income Tax Assessment Act 1936 limited the availability of the development allowance to eligible property first used or installed ready for use before 1 July 2002.
3. From 1 July 2001 the former depreciation rules were replaced with the uniform capital allowance regime in Division 40 of the Income Tax Assessment Act 1997.
4. The principles governing the tax treatment of capital expenditure on lift wells and similar building elements are now addressed in Taxation Ruling TR 97/23, Taxation Ruling TR 2004/16 and Taxation Ruling TR 2007/9.
5. Accordingly, this Ruling is no longer current and is withdrawn.
Commissioner of Taxation
23 September 2009