On 27 June 2018, the Australian Taxation Office (ATO) issued Taxation Ruling (TR) 2018/4 on the effective life of depreciating assets, which is effective from 1 July 2018 and replaces TR 2017/2.
Under Australian depreciation rules, taxpayers may choose to use the Commissioner's determination of the effective life of a depreciating asset as included in tables A and B of TR 2018/4 or choose to make their own estimate. Table A lists the effective life for industry specific assets and Table B …