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Taxation Ruling

TR 2013/4


TR 2013/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2013)

Please note that the PDF version is the authorised version of this ruling.


Preamble

Exclamation This publication provides you with the following level of protection:

This publication (excluding appendixes) is a public ruling for the purposes of the Taxation Administration Act 1953.

A public ruling is an expression of the Commissioner's opinion about the way in which a relevant provision applies, or would apply, to entities generally or to a class of entities in relation to a particular scheme or a class of schemes.

If you rely on this ruling, the Commissioner must apply the law to you in the way set out in the ruling (unless the Commissioner is satisfied that the ruling is incorrect and disadvantages you, in which case the law may be applied to you in a way that is more favourable for you - provided the Commissioner is not prevented from doing so by a time limit imposed by the law). You will be protected from having to pay any underpaid tax, penalty or interest in respect of the matters covered by this ruling if it turns out that it does not correctly state how the relevant provision applies to you.

Not issued as a draft



References

ATO references:
NO  99/132027; 2000/20567; 2003/11601; 2004/17815; 2005/6504; 2005/18073; 2006/25212; 2007/7796; 2008/9394; 2009/5704; 1-20KCCA6; 1-2Z8ZAX4; 1-3VCCZ0O; 1-4NMTK3G

ISSN: 1039-0731

Related Rulings/Determinations:
IT 2685
TR 2000/18
TR 2006/5
TR 2006/15
TR 2007/3
TR 2008/4
TR 2009/4
TR 2010/2
TR 2011/2
TR 2012/2

Subject References:
capped lives
determination of effective life
decline in value
depreciating assets
effective life
effective life determination

Legislative References:
ITAA 1997
ITAA 1997 Div 40
ITAA 1997 40-70(1)
ITAA 1997 40-72(1)
ITAA 1997 40-75(1)
ITAA 1997 40-95
ITAA 1997 40-100
ITAA 1997 40-100(5)
ITAA 1997 40-100(6)(b)
ITAA 1997 40-102(4)
ITAA 1997 40-102(4A)
ITAA 1997 40-105
ITAA 1997 40-110
TAA 1953

TR 2013/4
Table of contents
  Preamble
  What this Ruling is about
  Appendix 1 - Explanation
  TR 2013/4 - ANZSIC categories in Table A
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - AGRICULTURE, FORESTRY AND FISHING
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - MINING
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - MANUFACTURING
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - ELECTRICITY, GAS, WATER AND WASTE SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - CONSTRUCTION
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - WHOLESALE TRADE
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - RETAIL TRADE
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - ACCOMMODATION AND FOOD SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - TRANSPORT, POSTAL AND WAREHOUSING
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - INFORMATION MEDIA AND TELECOMMUNICATIONS
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - FINANCIAL AND INSURANCE SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - RENTAL, HIRING AND REAL ESTATE SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - PROFESSIONAL,SCIENTIFIC AND TECHNICAL SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - ADMINISTRATIVE AND SUPPORT SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - EDUCATION AND TRAINING
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - HEALTH CARE AND SOCIAL ASSISTANCE
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - ARTS AND RECREATION SERVICES
  TR 2013/4 - Effective lives (Industry Categories) Table A as at 1 July 2013 - OTHER SERVICES
  TR 2013/4 - Effective lives (Asset Categories) Table B as at 1 July 2013


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