06 Jul 06 Income tax: effective life of depreciating assets - TR 2006/5This final Taxation Ruling was issued on 5 July 2006. This Ruling, which applies from 1 July 2006, replaces TR 2000/18. To the extent that TR 2000/18 still applies to a taxpayer's circumstances, the taxpayer should refer to that Ruling for more information.
This Ruling discusses the methodology used by the Commissioner of Taxation in making determinations of the effective life of depreciating assets under section 40-100 of ITAA 1997. Determinations of the effective life of depreciating assets made by the Commissioner are reproduced in Tables A and B of the schedule to the Ruling.
For a copy of TR 2006/5, go here
For a copy of the Notice of Withdrawal of TR 2000/18, go here