Legislative Instrument
Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2007 (No. 1)
I, THOMAS ALFRED MEREDITH, Senior Assistant Commissioner, Office of the Chief Tax Counsel, make this Determination under subsection 40-100(1) of the Income Tax Assessment Act 1997.
Dated this 18th day of June 2007
Thomas Meredith
Senior Assistant Commissioner, Office of the Chief Tax Counsel.
1 Name of Determination
This Determination is the Income Tax (Effective Life of Depreciating Assets) Amendment Determination 2007 (No. 1).
2 Commencement
This Determination commences on 1 July 2007.
3 Amendment of Income Tax (Effective Life of Depreciating Assets) Determination 2001
Schedule 1 amends the Income Tax (Effective Life of Depreciating Assets) Determination 2001.
Schedule 1 Amendments
(section 3)
[1] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290)
Before
Environmental control structures (including glasshouses, hothouses, germination rooms, plastic clad tunnels and igloos) | 20 | * | 1 Jul 2006 |
Insert
All terrain vehicles (ATVs) used in primary production activities | 5 | * | 1 Jul 2007 |
[2] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290)
After
Environmental control structures (including glasshouses, hothouses, germination rooms, plastic clad tunnels and igloos) | 20 | * | 1 Jul 2006 |
Insert
Motorcycles used in primary production activities | 5 | * | 1 Jul 2007 |
[3] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290)
After
Sheds on land that is used for agricultural or pastoral operations (including machinery sheds, workshop sheds, farm production sheds) | 40 | * | 1 Jan 2007 |
Insert
[4] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990)
Omit
Dairy farm plant (power): | 20 | | 1 Jan 2001 |
[5] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990)
After
Curing barns (tobacco, timber, peanut, corn or grain) | 131/3 | | 1 Jan 2001 |
Insert
Dairy cattle farming assets: | | | |
Automatic calf feeders | 10 | * | 1 Jul 2007 |
Barn fed dairy farms: | | | |
Bulk and segregated commodity storage facilities (incorporating bunkers) | 30 | * | 1 Jul 2007 |
Exercise yards | 20 | * | 1 Jul 2007 |
Feeding barns and maternity barns (incorporating cow beds, fans, and feed alleys) | 20 | * | 1 Jul 2007 |
Cattle handling assets: | | | |
Air operated gates | 10 | * | 1 Jul 2007 |
All terrain vehicles(ATVs) | 3 | * | 1 Jul 2007 |
Automatic drafting systems | 7 | * | 1 Jul 2007 |
Automatic ID systems | 7 | * | 1 Jul 2007 |
Automatic weighing systems and cattle scales | 5 | * | 1 Jul 2007 |
Backing gates | 15 | * | 1 Jul 2007 |
Calf cradles | 10 | * | 1 Jul 2007 |
Cattle crushes | 10 | * | 1 Jul 2007 |
Cattle laneways | 30 | * | 1 Jul 2007 |
Cattle yards (including loading ramps) | 30 | * | 1 Jul 2007 |
Dairy milking sheds | 30 | * | 1 Jul 2007 |
Dairy yards and races | 20 | * | 1 Jul 2007 |
Teat spraying systems: | | | |
Automatic | 7 | * | 1 Jul 2007 |
Manual | 10 | * | 1 Jul 2007 |
Clean up assets: | | | |
High pressure pumps and hoses | 10 | * | 1 Jul 2007 |
Hot water services | 10 | * | 1 Jul 2007 |
Milk line washing systems: | | | |
Automatic | 10 | * | 1 Jul 2007 |
Manual | 10 | * | 1 Jul 2007 |
Feed milling and handling assets: | | | |
Augers | 10 | * | 1 Jul 2007 |
Conveyors and elevators | 15 | * | 1 Jul 2007 |
Feed pads and bunkers | 30 | * | 1 Jul 2007 |
Feeding systems: | | | |
Automatic | 12 | * | 1 Jul 2007 |
Manual | 15 | * | 1 Jul 2007 |
Feed mixers | 7 | * | 1 Jul 2007 |
Grain mills (including roller mills, disc mills and hammer mills) | 15 | * | 1 Jul 2007 |
Manure spreaders | 10 | * | 1 Jul 2007 |
Silage pits | 40 | * | 1 Jul 2007 |
Silage wagons | 10 | * | 1 Jul 2007 |
Silos (steel) | 20 | * | 1 Jul 2007 |
Telescopic handlers | 10 | * | 1 Jul 2007 |
Tub grinders | 7 | * | 1 Jul 2007 |
Milking and milk handling assets: | | | |
Automatic cluster removers | 10 | * | 1 Jul 2007 |
Bailing systems: | | | |
Herringbone (including swing over, double up and rapid exit) | 15 | * | 1 Jul 2007 |
Rotary | 15 | * | 1 Jul 2007 |
Walk through | 15 | * | 1 Jul 2007 |
Filters | 15 | * | 1 Jul 2007 |
Milking systems (incorporating clusters, swing over arms, hoses, pipes, pulsators, vacuum pumps, variable speed control) | 15 | * | 1 Jul 2007 |
Milk meters and recording jars (including conductivity sensors) | 10 | * | 1 Jul 2007 |
Milk vats | 25 | * | 1 Jul 2007 |
Plate coolers | 15 | * | 1 Jul 2007 |
Receivers | 15 | * | 1 Jul 2007 |
Refrigeration compressors | 10 | * | 1 Jul 2007 |
[6] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990), entry relating to Grain cotton, peanut and rice assets: Harvesting assets
After
Insert
Combine harvesters | 12 | * | 1Jul 2007 |
Cotton picker/strippers | 10 | * | 1 Jul 2007 |
[7] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990), entry relating to Grain cotton, peanut and rice assets: Harvesting assets
After
Peanut diggers (including peanut pullers) | 10 | * | 1 Jan 2007 |
Insert
Peanut threshers | 12 | * | 1Jul 2007 |
[8] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990), entry relating to Hay and foraging assets
After
Baler and wrappers | 10 | * | 1 Jan 2007 |
Insert
Forage harvesters | 10 | * | 1 Jul 2007 |
[9] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990)
Omit
Headers, self propelled (combine harvesters) | 62/3 | | 1 Jan 2001 |
[10] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), sub-category Agriculture (01110 to 01990)
Omit
Motor cycles (used for mustering, maintenance of fences, etc) | 3 | | 1 Jan 2001 |
[11] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), after sub-category Nursery and Floriculture Production (01110 to 01150)
Insert
Hydroponics (01220) |
ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Hanging gutters | 10 | * | 1 Jul 2007 |
Troughs | 10 | * | 1 Jul 2007 |
Hydroponics growers may use the effective life for relevant assets shown in Nursery and Floriculture Production (01110 to 01150) | | | |
Vegetable and cane growing (01230 and 01510) |
ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Chemical spraying assets: | | | |
Generally | 10 | * | 1 Jul 2007 |
Self-propelled | 8 | * | 1 Jul 2007 |
Fertilizer spreaders: | | | |
Generally | 10 | * | 1 Jul 2007 |
Spinner | 5 | * | 1 Jul 2007 |
General assets: | | | |
Bins: | | | |
Plastic | 10 | * | 1 Jul 2007 |
Timber | 5 | * | 1 Jul 2007 |
Mulch layers | 12 | * | 1 Jul 2007 |
Mulch lifters | 12 | * | 1 Jul 2007 |
Mulchers | 8 | * | 1 Jul 2007 |
Rakes (eg cane trash rake) | 10 | * | 1 Jul 2007 |
Slashers | 8 | * | 1 Jul 2007 |
Harvesting assets: | | | |
Cane haul out bins | 12 | * | 1 Jul 2007 |
Harvesters (including cane, carrot, onion, potato and tomato) | 10 | * | 1 Jul 2007 |
Harvesting aids (incorporating trailer and conveyor belts) | 15 | * | 1 Jul 2007 |
Onion lifters | 10 | * | 1 Jul 2007 |
Trailers | 15 | * | 1 Jul 2007 |
Windrowers (including potato diggers, onion and potato windrowers) | 10 | * | 1 Jul 2007 |
Planting assets: | | | |
Billet planters | 12 | * | 1 Jul 2007 |
Potato cutters | 15 | * | 1 Jul 2007 |
Potato planters | 10 | * | 1 Jul 2007 |
Precision seeders | 10 | * | 1 Jul 2007 |
Transplanters: | | | |
Automated | 7 | * | 1 Jul 2007 |
Manual | 10 | * | 1 Jul 2007 |
Tillage assets: | | | |
Generally | 15 | * | 1 Jul 2007 |
PTO operated (including rotary hoes and power harrows) | 8 | * | 1 Jul 2007 |
Trellising assets: | | | |
Stake drivers | 12 | * | 1 Jul 2007 |
Stake pullers | 12 | * | 1 Jul 2007 |
Trellising (incorporating stakes and wire) | 5 | * | 1 Jul 2007 |
Wire winders | 15 | * | 1 Jul 2007 |
Coffee, olive and tree nut growing (01370, 01390 and 01590) |
ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Chemical spraying assets (including air blast sprayers and linkage sprayers) | 10 | * | 1 Jul 2007 |
Cleaning and mulching assets: | | | |
Blowers | 10 | * | 1 Jul 2007 |
Mowers (including zero turn and ride on) | 8 | * | 1 Jul 2007 |
Mulchers | 8 | * | 1 Jul 2007 |
Slashers | 10 | * | 1 Jul 2007 |
Sweeper attachments | 10 | * | 1 Jul 2007 |
Fertilizer spreaders | 10 | * | 1 Jul 2007 |
General assets: | | | |
Bins: | | | |
Plastic | 10 | * | 1 Jul 2007 |
Timber | 5 | * | 1 Jul 2007 |
Stakes (including trellising) | 3 | * | 1 Jul 2007 |
Harvesting assets: | | | |
Bankouts (almonds) | 15 | * | 1 Jul 2007 |
Catcher nets | 10 | * | 1 Jul 2007 |
Elevators (almonds) | 12 | * | 1 Jul 2007 |
Harvesters: | | | |
Coffee | 10 | * | 1 Jul 2007 |
Olive | 10 | * | 1 Jul 2007 |
Nuts: | | | |
Generally | 10 | * | 1 Jul 2007 |
Macadamia mower mounted | 8 | * | 1 Jul 2007 |
Pick ups (eg almonds) | 12 | * | 1 Jul 2007 |
Sweepers | 12 | * | 1 Jul 2007 |
Tree shakers | 10 | * | 1 Jul 2007 |
Reservoir carts (almonds) | 15 | * | 1 Jul 2007 |
Harvesting pole rakes | 5 | * | 1 Jul 2007 |
Trailers | 15 | * | 1 Jul 2007 |
Pruning assets: | | | |
Chain saws | 5 | * | 1 Jul 2007 |
Electric hand pruners | 3 | * | 1 Jul 2007 |
Manual hand pruners | 2 | * | 1 Jul 2007 |
Pneumatic pruners: | | | |
Compressor | 10 | * | 1 Jul 2007 |
Hand tools | 5 | * | 1 Jul 2007 |
[12] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), after sub-category Forestry and logging (03010 to 03020)
Omit
Aquaculture and fishing (02011 to 02039 and 04111 to 04199) |
ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Fish farming ponds (earth and clay) | 20 | | 1 Jan 2001 |
Fishing plant: | | | |
Boats | 131/3 | | 1 Jan 2001 |
Fish holding baskets | 10 | | 1 Jan 2001 |
Purse seine fishing net | 5 | | 1 Jan 2001 |
Pearling and oyster fishing plant: | | | |
Luggers (oyster fishing) | 131/3 | | 1 Jan 2001 |
Pearling boats | 20 | | 1 Jan 2001 |
Pumps | 131/3 | | 1 Jan 2001 |
Prawn farming ponds and plant | 20 | | 1 Jan 2001 |
[13] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), after sub-category Poultry hatcheries (01710 to 01720)
Insert
Aquaculture (02011 to 02039) |
ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Aeration assets: | | | |
Direct supply systems (including paddlewheels and aspirators): | | | |
Fresh water | 6 | * | 1 Jul 2007 |
Salt water | 3 | * | 1 Jul 2007 |
Remote or indirect supply systems (incorporating blowers, diaphragm pumps, diffusers, upwellers and pipelines) | 10 | * | 1 Jul 2007 |
Aquaculture tanks: | | | |
Concrete | 20 | * | 1 Jul 2007 |
Fibreglass | 15 | * | 1 Jul 2007 |
Polyethylene | 20 | * | 1 Jul 2007 |
Raceways | 20 | * | 1 Jul 2007 |
Transport of live products | 10 | * | 1 Jul 2007 |
Bins and crates | 5 | * | 1 Jul 2007 |
Cooling assets (including water chillers) | 10 | * | 1 Jul 2007 |
Control systems | 10 | * | 1 Jul 2007 |
Environmental control structures and protective structures used in salt water environment | 15 | * | 1 Jul 2007 |
Feeders (including belt, pendulum, scatter and blower) | 5 | * | 1 Jul 2007 |
Graders | 10 | * | 1 Jul 2007 |
Harvesting nets | 4 | * | 1 Jul 2007 |
Hatching assets (including hatching containers) | 10 | * | 1 Jul 2007 |
Heating assets: | | | |
Direct heating system (including immersion heaters): | | | |
Fresh water | 10 | * | 1 Jul 2007 |
Salt water | 5 | * | 1 Jul 2007 |
Indirect heating system (including heat exchangers and passive heating) | 10 | * | 1 Jul 2007 |
Instruments (including sensors and water quality meters) | 5 | * | 1 Jul 2007 |
Oyster farming assets: | | | |
Oyster growing structures (incorporating posts and racks or lines) | 10 | * | 1 Jul 2007 |
Baskets | 8 | * | 1 Jul 2007 |
Rumblers | 10 | * | 1 Jul 2007 |
Sticks | 5 | * | 1 Jul 2007 |
Trays: | | | |
Plastic | 8 | * | 1 Jul 2007 |
Timber | 5 | * | 1 Jul 2007 |
Vats, treatment | 15 | * | 1 Jul 2007 |
Pearling and oyster fishing plant: | | | |
Luggers (oyster fishing) | 131/3 | | 1 Jan 2001 |
Pearling boats | 20 | | 1 Jan 2001 |
Power supply assets, emergency or standby: | | | |
Generators (incorporating attached engine management and generator monitoring instruments) | 15 | * | 1 Jul 2007 |
Processing assets: | | | |
Conveyors, elevators and hoppers | 10 | * | 1 Jul 2007 |
Cookers | 10 | * | 1 Jul 2007 |
Packaging assets (including vacuum and modified atmospheric packing) | 10 | * | 1 Jul 2007 |
Refrigeration assets: | | | |
Insulation panels in cool or freezer rooms used in salt water environment | 20 | * | 1 Jul 2007 |
Sea cages (incorporating rings, nets, ropes, anchors, weights and stanchions) | 10 | * | 1 Jul 2007 |
Water assets: | | | |
Aquaculture channels and ponds | 20 | * | 1 Jul 2007 |
Liners and erosion matting for ponds and channels | 15 | * | 1 Jul 2007 |
Pipes and pipelines: | | | |
Above ground (polyethylene, polyvinylchloride including lay flat hoses) | 10 | * | 1 Jul 2007 |
In ground (polyethylene and polyvinylchloride) | 30 | * | 1 Jul 2007 |
Pumps: | | | |
Generally: | | | |
Fresh water | 10 | * | 1 Jul 2007 |
Salt water | 5 | * | 1 Jul 2007 |
Single phase transfer pumps: | | | |
Fresh water | 5 | * | 1 Jul 2007 |
Salt water | 3 | * | 1 Jul 2007 |
Water treatment assets (including filtration assets, foam fractionators, oxygen and ozone generators and UV sterilizers) | 10 | * | 1 Jul 2007 |
Water transport and ancillary assets: | | | |
Boats, aluminium | 15 | * | 1 Jul 2007 |
Lifting assets | 10 | * | 1 Jul 2007 |
Outboard motors | 5 | * | 1 Jul 2007 |
Trailers | 8 | * | 1 Jul 2007 |
Weighing machines | 5 | * | 1 Jul 2007 |
[14] Table A, industry category AGRICULTURE, FORESTRY and FISHING (01110 to 05290), after sub-category Forestry and logging (03010 to 03020)
Insert
Fishing (04111 to 04199) |
ASSET | LIFE (YEARS) | REVIEWED | DATE OF APPLICATION |
Fishing plant: | | | |
Boats | 131/3 | | 1 Jan 2001 |
Fish holding baskets | 10 | | 1 Jan 2001 |
Purse seine fishing net | 5 | | 1 Jan 2001 |
[15] Table B, items beginning with T
Omit
Insert