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19 Feb 09 Draft effective life - Automotive body, paint and interior repair industry

The ATO has released, for comment, a draft list of effective lives for assets used in repairing, panel beating and/or spray painting smashed or damaged automotive vehicles (commonly referred to as "smash repairs"). The list of new effective life determinations is proposed to be added to the Commissioner’s schedule effective for new packaging assets purchased or installed from 1 July 2009. For a copy of the list, go here.

The ATO has also released, for comment, a draft list of effective lives car wash and detailing assets, which will also be effective for new assets purchased or installed from 1 July 2009. For a copy of the list, go here.

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