The ATO has released for comment more draft lists of effective lives for assets used in iron smelting and steel manufacturing. The asset lists are as follows:
- Tin plating mill assets
- Steel strip metallic and organic coating assets
- Rod, bar, structural and rail mill assets
- Plate mill assets
- Hot strip mill assets
The ATO proposes adding the new effective life determinations to the Commissioner’s schedule, effective from 1 July 2010. Any feedback should be made by 31 March 2010.