Income tax: effective life of depreciating assets (applicable from 1 July 2015)

Taxation Ruling TR 2015/2 has been replaced by Taxation Ruling TR 2016/1, which applies from 1 July 2016. To the extent that the views contained in TR 2015/2 still apply, they have been incorporated into TR 2016/1.

The Commissioner has made a new determination of the effective life of certain depreciating assets which takes effect from 1 July 2016. This determination has been incorporated into Tables A and B in the Schedule to Taxation Ruling TR 2016/1.