24 Feb 10 Iron smelting and steel manufacturing - revised draft effective lives
The ATO has released for comment revised draft lists of effective lives for various assets used in iron smelting and steel manufacturing. The assets are as follows:
- Generic assets
- Casting assets
- Blast furnace assets
- Basic oxygen steelmaking assets and electric arc furnace steelmaking assets
Comments on the draft lists are due by 31 March 2010. The ATO proposes adding the new effective life determinations to the Commissioner’s schedule, effective from 1 July 2010.