25 Nov 2013 Review of effective life of assets used in the professional photography services industry

The ATO has announced that it has started a review of the assets used in the professional photography services industry as a business defined within ANZSIC code 69910, with a view to making new effective-life determinations.

When finalised, the ATO proposes to add them to the schedule that will apply to new assets purchased or installed on or after 1 July 2015. It will issue draft effective lives for public comment well before it makes its final decisions.