Legislative Instrument

Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2022

 

 

 

I, Ben Kelly, Deputy Commissioner of Taxation, make this determination under subsection 40-100(1) of the Income Tax Assessment Act 1997 (ITAA 1997).

 

 

Ben Kelly

Deputy Commissioner of Taxation

Policy, Analysis and Legislation

Law Design and Practice

Dated: 10 June 2022

 

 

This Determination is the Income Tax (Effective Life of Depreciating Assets) Amendment Determination (No 1) 2022.

 

This instrument commences on 1 July 2022.

 

Schedule 1 amends the Income Tax (Effective Life of Depreciating Assets) Determination 2015 - F2015L00798 registered on 11 June 2015.

 

The amendments in this determination may affect:

(1)               taxpayers who choose, under paragraph 40-95(1)(a) of the ITAA 1997, to use an effective life determined by the Commissioner for a depreciating asset when working out its decline in value, and

(2)               taxpayers who are directed, under subsections 40-95(4C),40-95(5C), 40-95(6), 58-75(5) and 58-80(6) of the ITAA 1997, to use an effective life determined by the Commissioner.

 

An asterisk (*) in the third column of Tables A and B indicates the corresponding assets have been reviewed to date as part of the ongoing review of the Commissioner’s effective life determinations.

A hash (#) in the third column of Table A or B indicates a capped life is available for the depreciating assets under section 40-102 of the ITAA 1997.


Schedule 1 Amendments

(section 3)

 

 

[1] Heading to Table A

 

Omit

Table A as at 1 July 2021

 

Substitute

Table A as at 1 July 2022

 

 

[2] Table A, industry category AGRICULTURE, FORESTRY AND FISHING (01110 to 05290)

 

Omit

Fences (excluding stockyard, pen and portable fences):  Being fencing constructed at a time for a particular function (eg a line of fencing forming a side of a boundary or paddock) not being in the nature of a repair:

 

 

 

 

Substitute

Fences (excluding stockyard, pen and portable fences):  Being fencing constructed at a time for a particular function (e.g. a line of fencing forming a side of a boundary or paddock) not being in the nature of a repair:

 

 

 

 

 

[3] Table A, industry category AGRICULTURE, FORESTRY AND FISHING (01110 to 05290), sub-category Vegetable growing (outdoors) and sugar cane growing (01230 and 01510)

 

Omit

 Rakes (eg cane trash rakes)

10

*

1 Jul 2007

 

Substitute

 Rakes (e.g. cane trash rakes)

10

*

1 Jul 2007

 

 

[4] Table A, industry category AGRICULTURE, FORESTRY AND FISHING (01110 to 05290), sub-category Fruit and tree nut growing (01310 to 01370, 01390 and 01590)

 

Omit

    Pick ups (eg almonds)

12

*#

1 Jul 2007

 

Substitute

    Pick ups (e.g. almonds)

12

*#

1 Jul 2007

 

 

[5] Table A, industry category MINING (06000 to 10900), sub-category Oil and gas extraction (07000)               Gas compression and reinjection assets

 

Omit

   Generally (including piping, skid, vessels     assets used onshore)

30

*#

1 Jul 2002

 

Substitute

   Generally (including piping, skid, vessels and    assets used onshore)

30

*#

1 Jul 2002

 

 

[6] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Prepared animal and bird feed manufacturing (11920)

 

Omit

  Canning and tray assets including closers and   fillers

10

*

1 Jul 2013

 

Substitute

  Canning and tray assets (including closers and   fillers)

10

*

1 Jul 2013

 

 

[7] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Prepared animal and bird feed manufacturing (11920), Prepared animal and bird feed manufacturing assets generally

 

After

  Storage bins

20

*

1 Jul 2012

 

Insert

 Salt manufacturing and refining assets - see Table  A Basic inorganic chemical manufacturing (18130)

 

 

 

 

 

[8] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Other food product manufacturing n.e.c. (11990), Peanut processing assets

 

After

 Refrigeration units

20

*

1 Jul 2009

 

Insert

 Salt manufacturing and refining assets - see Table  A Basic inorganic chemical manufacturing (18130)

 

 

 

 

 

[9] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Clothing manufacturing (13510)

 

Omit

Clothing manufacturing

(13510)

ASSET

LIFE (YEARS)

REVIEWED

DATE OF APPLICATION

Clothing and millinery manufacturing plant:

 

 

 

 General plant

20

 

1 Jan 2001

 Hat manufacturing plant and machinery

131/3

 

1 Jan 2001

 Sewing machines

10

*

1 Jul 2014

 

Substitute

Clothing manufacturing

(13510)

ASSET

LIFE (YEARS)

REVIEWED

DATE OF APPLICATION

Air compressors

10

*

1 Jul 2022

Cutting machines and tables

20

*

1 Jul 2022

Dyeing machines

10

*

1 Jul 2022

Fusing machines and presses

8

*

1 Jul 2022

Gas boilers (steam)

15

*

1 Jul 2022

Hat pressing machines

20

*

1 Jul 2022

Lights – portable

5

*

1 Jul 2022

Plotters and printers

8

*

1 Jul 2022

Pressing equipment (including ironing tables and steam boilers)

 

10

 

*

 

1 Jul 2022

Sewing machines:

 

 

 

 Banding

15

*

1 Jul 2022

 Button sewer, clip attaching

5

*

1 Jul 2022

 Embroidery – single and multi-head

12

*

1 Jul 2022

 General (including bar tack, binding, feed off the  arm, single folder, two-needle, underwire)

10

*

1 Jul 2022

 High speed industrial

10

*

1 Jul 2022

 Millinery

20

*

1 Jul 2022

 Overlocker

15

*

1 Jul 2022

Steamers

2

*

1 Jul 2022

Stud setting machines

20

*

1 Jul 2022

 

 

[10] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Footwear manufacturing (13520)

 

Omit

Footwear manufacturing

(13520)

 

Substitute

Footwear manufacturing

(13520)

 

 

[11] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Basic inorganic chemical manufacturing (18130)

 

Omit

Salt manufacturing and refining plant

10

 

1 Jan 2001

 

Substitute

Salt manufacturing and refining assets:

 

 

 

 Air compressors – see Table B Air compression  assets: Air compression assets generally (including  air compressors, air dryers and air receivers)

 

 

 

 Augers

10

*

1 Jul 2022

 Automated packing machines

20

*

1 Jul 2022

 Bagging machines

10

*

1 Jul 2022

 Bag sewers – see Table B Packaging machines: Bag  sewers

 

 

 

 Bag stackers

15

*

1 Jul 2022

 Belt weighers

15

*

1 Jul 2022

 Blow moulders

15

*

1 Jul 2022

 Bucket elevators

10

*

1 Jul 2022

 Centrifuges

12

*

1 Jul 2022

 Conveyors

15

*

1 Jul 2022

 Crushers

25

*

1 Jul 2022

 Cyclones

15

*

1 Jul 2022

 Dust extraction systems

5

*

1 Jul 2022

 Forklifts – see Table B Forklifts

 

 

 

 Kilns

20

*

1 Jul 2022

 Labelling machines (including date printers)

5

*

1 Jul 2022

 Metal detectors

10

*

1 Jul 2022

 Motor control centres

20

*

1 Jul 2022

 Net weighers

5

*

1 Jul 2022

 Pallet wrappers – see Table B Packaging machines:  Wrapping machines (including pallet wrappers, shrink               wrappers, stretch wrappers and strapping machines)

 

 

 

 Platform scales

10

*

1 Jul 2022

 Ribbon mixers

15

*

1 Jul 2022

 Roller mills

15

*

1 Jul 2022

 Rotary valves

15

*

1 Jul 2022

 Salt flake growing tanks

15

*

1 Jul 2022

 Salt hoppers

15

*

1 Jul 2022

 Sizing screen machines

15

*

1 Jul 2022

 Slurry lines

10

*

1 Jul 2022

 Wash plant pumps

15

*

1 Jul 2022

 Wash plants (removable)

20

*

1 Jul 2022

 Weigh feeders

10

*

1 Jul 2022

 

 

[12] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Iron smelting and steel manufacturing (21100)

 

Omit

 CCTV system

3

*

1 Jul 2010

 

Substitute

 CCTV systems

3

*

1 Jul 2010

 

 

[13] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Non‑ferrous metal casting (21410)

 

Omit

Metal casting assets (non‑ferrous eg aluminium, brass and magnesium):

 

 

 

 

Substitute

Metal casting assets (non‑ferrous e.g. aluminium, brass and magnesium):

 

 

 

 

 

[14] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Motor vehicle manufacturing (23110) Motor vehicle manufacturing plant (not listed elsewhere)

 

Omit

 Tooling (ie jigs, dies, press tools and specialty  attachments such as working heads and work‑ holding tools)

  3

 

1 Jan 2001

 

Substitute

 Tooling (i.e. jigs, dies, press tools and specialty  attachments such as working heads and work‑holding               tools)

3

 

1 Jan 2001

 

 

[15] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Other transport equipment manufacturing n.e.c. (23990)

 

Omit

Motor cycle building plant

10

 

1 Jan 2001

 

Substitute

Motorcycle building plant

10

 

1 Jan 2001

 

 

[16] Table A, industry category MANUFACTURING (11110 to 25990), sub-category Wooden furniture and upholstered seat manufacturing (25110)

 

Omit

Wooden furniture and upholstered seat manufacturing

(25110)

ASSET

LIFE (YEARS)

REVIEWED

DATE OF APPLICATION

Furniture‑making plant

131/3

 

1 Jan 2001

 

Substitute

Wooden furniture and upholstered seat manufacturing

(25110)

ASSET

LIFE (YEARS)

REVIEWED

DATE OF APPLICATION

Dust management assets:

 

 

 

 Portable dust extractors

5

*

1 Jul 2022

 Portable wet and dry vacuum cleaners

5

*

1 Jul 2022

 Stationary dust collection systems (incorporating  bags, motors, pipes etc)

12

*

1 Jul 2022

Spray booth assets:

 

 

 

 Full face air fed masks

3

*

1 Jul 2022

 Paint pumps

5

*

1 Jul 2022

 Spray booths

15

*

1 Jul 2022

 Spray guns

3

*

1 Jul 2022

Support assets:

 

 

 

 Air compression assets – see Table B Air  compression assets

 

 

 

 Air compressors (portable) – see Table B Air  compressors (portable)

 

 

 

 Forklifts – see Table B Forklifts

 

 

 

 Racks

15

*

1 Jul 2022

 Trolleys (carts)

10

*

1 Jul 2022

 Vacuum lifters

5

*

1 Jul 2022

 Work benches and tables

10

*

1 Jul 2022

Tools:

 

 

 

 Benchtop power tools (including biscuit/domino  joiners, drill presses, jigsaws, laminate trimmers,  mortisers, planners, routers, spindle sanders etc but               excluding saws)

5

*

1 Jul 2022

 Clamps

10

*

1 Jul 2022

 Hand held power tools (including air, battery, and  electric) - see Table B Power tools, hand tools

 

 

 

 Hand tools (manual operated) - see Table B Hand  tools (manual operated)

 

 

 

 Sawing machines:

 

 

 

  Band saws

8

*

1 Jul 2022

  Circular saws

8

*

1 Jul 2022

  Mitre saws (drop saws)

7

*

1 Jul 2022

  Panel saws

8

*

1 Jul 2022

  Table saws

10

*

1 Jul 2022

 Stationary machines:

 

 

 

  Computer numerical control (CNC) machines    (including CNC routers)

10

*

1 Jul 2022

  Edge banders

8

*

1 Jul 2022

  Pedestal drills (drill presses)

10

*

1 Jul 2022

  Sanders (including belt sanders, drum sanders,   edge sanders, spindle sanders etc)

12

*

1 Jul 2022

  Spindle moulders

10

*

1 Jul 2022

  Thicknessers/Buzzers

15

*

1 Jul 2022

Upholstery assets:

 

 

 

 CNC fabric cutters

10

*

1 Jul 2022

 Hand fabric cutters

5

*

1 Jul 2022

 Sewing machines

10

*

1 Jul 2022

 

 

[17] Table A, industry category RETAIL TRADE (39110 to 43209)

 

After

Overhead track scales (including meat rail scales)

10

*

1 Jul 2005

 

Insert

Plastic safety screens (including sneeze guards)

2

*

1 Jul 2022

 

 

[18] Table A, industry category RETAIL TRADE (39110 to 43209), sub-category Motor vehicle tyre or tube retailing (39220)

 

Omit

 Air receivers

10

*

1 Jul 2011

 Air driers and dehumidifiers

10

*

1 Jul 2011

 

Substitute

 Air driers and dehumidifiers

10

*

1 Jul 2011

 Air receivers

10

*

1 Jul 2011

 

 

[19] Table A, industry category ACCOMMODATION AND FOOD SERVICES

(44000 to 45302), sub-category Cafes, restaurants, takeaway food services, pubs, taverns, bars and clubs (hospitality) (45110 to 45302)

 

Omit

Menu boards

5

*

1 Jul 2005

Poker/gaming machines

7

*

1 Jul 2009

 

Substitute

Menu boards

5

*

1 Jul 2005

Plastic safety screens (including sneeze guards)

2

*

1 Jul 2022

Poker/gaming assets – see Table A Casino operations (92010)

 

 

 

 

 

[20] Table A, industry category TRANSPORT, POSTAL AND WAREHOUSING (46100 to 53090), sub-category Road transport (46100 to 46239)

 

Omit

  Hire cars:

 

 

 

   Cars used to provide basic service     ride‑sourcing, ride‑hailing or ride‑sharing                                                         services (eg uberX)

8

*

1 Jul 2016

   Generally (including cars used to provide     premium service ride‑sourcing, ride‑hailing or                                           ride‑sharing services eg UberBLACK)

6

*

1 Jul 2016

 

Substitute

  Hire cars:

 

 

 

   Cars used to provide basic service     ride‑sourcing, ride‑hailing or ride‑sharing                                                         services (e.g. uberX)

8

*

1 Jul 2016

   Generally (including cars used to provide     premium service ride‑sourcing, ride‑hailing or                                           ride‑sharing services e.g. UberBLACK)

6

*

1 Jul 2016

 

 

[21] Table A, industry category INFORMATION MEDIA AND TELECOMMUNICATIONS (54110 to 60200), sub-category Telecommunications services (58010 to 58090)

 

Omit

 Microwave radio system (including modulator,  demodulator, receiver, transmitter,  monitoring/supervisory system, RF filter)

 

 

 

 

Substitute

 Microwave radio system (including modulator,  demodulator, receiver, transmitter,  monitoring/supervisory system, RF filter):

 

 

 

 

 

[22] Table A, industry category RENTAL, HIRING AND REAL ESTATE SERVICES

(66110 to 67200), sub-category Rental and hiring services (except real estate)

(66110 to 66400)

 

Omit

Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (eg construction sites)

10

*

1 Jul 2014

 

Substitute

Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (e.g. construction sites)

10

*

1 Jul 2014

 

 

[23] Table A, industry category RENTAL, HIRING AND REAL ESTATE SERVICES

(66110 to 67200), sub-category Residential property operators (67110), Outdoor assets

 

Omit

 Roller blinds

 

 

 

 

Substitute

 Roller blinds:

 

 

 

 

 

[24] Table A, industry category RENTAL, HIRING AND REAL ESTATE SERVICES

(66110 to 67200), sub-category Residential property operators (67110), Security and monitoring assets, Security systems

 

Omit

  Global System for Mobiles (GSM) Units

5

*

1 Jul 2004

 

Substitute

  Global System for Mobiles (GSM) units

5

*

1 Jul 2004

 

 

[25] Table A, industry category HEALTH CARE AND SOCIAL ASSISTANCE

(84010 to 87900), sub-category Retirement village and accommodation for the aged operation (86011 to 86012)

 

Omit

 Chairs

 

 

 

 

Substitute

 Chairs:

 

 

 

 

 

[26] Table A, industry category HEALTH CARE AND SOCIAL ASSISTANCE

(84010 to 87900), sub-category Retirement village and accommodation for the aged operation (86011 to 86012)

 

Omit

 Hoists

 

 

 

  Ceiling (incorporating tracks)

12

*

1 Jul 2019

  Mobile (floor, full, standing)

10

*

1 Jul 2019

 Lifting slings

2

*

1 Jul 2019

 Mattresses

 

 

 

 

Substitute

 Hoists:

 

 

 

  Ceiling (incorporating tracks)

12

*

1 Jul 2019

  Mobile (floor, full, standing)

10

*

1 Jul 2019

 Lifting slings

2

*

1 Jul 2019

 Mattresses:

 

 

 

 

 

[27] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099), sub-category Creative and performing arts activities (90010 to 90030)

 

Omit

Theatre equipment:

 

 

 

 Accessories (theatrical – wigs, costumes etc)

5

 

1 Jan 2001

Performing dogs – see Table B Working dogs

 

 

 

 

Substitute

Performing dogs – see Table B Working dogs

 

 

 

Theatre equipment:

 

 

 

 Accessories (theatrical – wigs, costumes etc)

5

 

1 Jan 2001

 

 

[28] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099), sub-category Gambling activities (92010 to 92099)

 

Omit

Poker/gaming machines

7

*

1 Jul 2009

 

Substitute

Poker/gaming assets – see Table A Casino operations (92010)

 

 

 

 

 

[29] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099), sub-category Gambling activities (92010 to 92099)

 

Omit

 Ancillary equipment (eg ticket issuing machines)

131/3

 

1 Jan 2001

 

Substitute

 Ancillary equipment (e.g. ticket issuing machines)

131/3

 

1 Jan 2001

 

 

[30] Table A, industry category ARTS AND RECREATION SERVICES (89100 to 92099), after sub-category Gambling activities (92010 to 92099)

 

Insert

Casino operations

(92010)

ASSET

LIFE (YEARS)

REVIEWED

DATE OF APPLICATION

Carpets

8

*

1 Jul 2022

Count and cage assets:

 

 

 

 Coin scales

10

*

1 Jul 2022

 Counterfeit detectors

8

*

1 Jul 2022

 Note counters/sorters/verifiers

6

*

1 Jul 2022

 Trolleys

10

*

1 Jul 2022

Electronic table games (including keno games, poker games, rapid games)

6

*

1 Jul 2022

Entertainment assets:

 

 

 

 Audio (including amplifiers, microphones, speakers,  processors)

5

*

1 Jul 2022

 Visual (including televisions, DVD players)

5

*

1 Jul 2022

Gaming signage (including digital displays, jackpot displays, LED/LCD video walls and partitions)

5

*

1 Jul 2022

Gaming stools and chairs

5

*

1 Jul 2022

Gaming tables (including blackjack, poker, roulette)

7

*

1 Jul 2022

Poker/gaming machines

6

*

1 Jul 2022

Poker/gaming machines system hardware (used for monitoring)

6

*

1 Jul 2022

Security and monitoring assets – see Table B Security and monitoring assets

 

 

 

Table game equipment:

 

 

 

 Big wheels

7

*

1 Jul 2022

 Card shufflers

5

*

1 Jul 2022

 Chippers

5

*

1 Jul 2022

 Chips and plaques

10

*

1 Jul 2022

 Dealer handset devices

5

*

1 Jul 2022

 Display screens

5

*

1 Jul 2022

 Roulette wheels

7

*

1 Jul 2022

 Shoes (electronic type)

5

*

1 Jul 2022

 

 

[31] Heading to Table B

 

Omit

Table B as at 1 July 2021

 

Substitute

Table B as at 1 July 2022

 

 

[32] Table B, items beginning with A

 

Omit

 Other accommodation units (eg manufactured  homes)

30

*

1 Jul 2015

 

Substitute

 Other accommodation units (e.g. manufactured  homes)

30

*

1 Jul 2015

 

 

[33] Table B, items beginning with E

 

After

ASSET

LIFE (YEARS)

REVIEWED

DATE OF APPLICATION

 

Insert

Electric bicycles (e-bicycles and e-bikes)

4

*

1 July 2022

Electric scooters (e-scooters)

2

*

1 July 2022

 

 

[34] Table B, items beginning with M

 

Omit

  Hire cars:

 

 

 

   Cars used to provide basic service
   ride-sourcing, ride-hailing or ride-sharing     services (eg uberX)

8

*

1 Jul 2016

   Generally (including cars used to provide     premium service ride-sourcing, ride-hailing or                                           ride-sharing services eg UberBLACK)

6

*

1 Jul 2016

 

Substitute

  Hire cars:

 

 

 

   Cars used to provide basic service
   ride-sourcing, ride-hailing or ride-sharing     services (e.g. uberX)

8

*

1 Jul 2016

   Generally (including cars used to provide     premium service ride-sourcing, ride-hailing or                                           ride-sharing services e.g. UberBLACK)

6

*

1 Jul 2016

 

 

[35] Table B, items beginning with P

 

After

Partitions (demountable)

20

*

1 Jul 2005

 

Insert

Plastic safety screens (including sneeze guards)

2

*

1 July 2022

 

 

[36] Table B, items beginning with P

 

Omit

Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (eg construction sites)

15

*

1 Jul 2014

 

Substitute

Portable structures (sheds, site office trailers, portable toilets and washrooms etc) used for a temporary period in offsite locations (e.g. construction sites)

15

*

1 Jul 2014