The ATO has released for comment draft initial recommendations for changes it is proposing to make in Table B of Taxation Ruling TR 2012/2 (Effective lives of depreciating assets). Table B lists effective lives for various asset categories. The ATO proposes to withdraw effective life determinations for various assets in Table B (and not replace them), and proposes to amend and review other entries in the Table.
COMMENTS are due by 29 March 2013.
[LTN 39, 27/2/13]