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Posts Tagged ‘TR 2011/2’

New effective life legislation from the ATO – TR 2012/2 in effect from 1 July 2012

By Mike Mortlock | July 12, 2012
legislation

On the 27th of June 2012, the ATO withdrew the taxation ruling TR 2011/2. This outlined the effective life of all qualifying plant and equipment depreciating assets. The new and excitingly named TR 2012/2 ruling is in effect from the 1st of July 2012 and includes some changes to existing depreciating assets and the addition of some new…

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Accommodation & Food Services – Asset Lists & Tax Depreciation Deductions

By Mike Mortlock | May 9, 2012
plant and equipment assets

When it comes to plant and equipment assets, few industries have more individual asset types than accommodation and food services. In a residential property, these include bathroom accessories, blinds, carpets, cook-tops, hot water systems, ovens and more. However, in general you’re unlikely to find much more than around 20 plant and equipment assets in any…

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Tax Depreciation Rates (ATO) – 2012 Rates for your residential investment property

By Mike Mortlock | February 1, 2012
Investment Property

In previous posts we’ve looked at how effective lives are calculated, how depreciation rates are calculated and the difference between the diminishing value and prime cost methods. As we often get questions about the specific effective lives for residential property, we’ve decided to post the current effective lives here. These effective lives are current at…

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