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TR 2021/3 discusses the methodology used by the Commissioner of Taxation in making a determination of the effective life of depreciating assets under section 40-100 of the Income Tax Assessment Act 1997.

TR 2021/3 has been replaced by Taxation Ruling TR 2022/1 Income tax: effective life of depreciating assets (applicable from 1 July 2022), which applies from 1 July 2022. To the extent that the views contained in TR 2021/3 still apply, they have been incorporated into TR 2022/1.

The Commissioner has made a new determination of the effective life of certain depreciating assets which takes effect from 1 July 2022. This determination has been incorporated into Tables A and B in the Schedule to Taxation Ruling TR 2022/1.