Changes to depreciation

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From: Toyo Spares


According to a quick search of the ATO WWW site, the IT 2685 depreciation rate and effective life (EL) tables have been withdrawn effective 1 January 2001.

Any body know what has replaced them ?

Looking through the The Taxpayers Guide 2000/2001 and the 2000 Master Tax Guide I can find no particular ruling on the EL of a dishwasher in "Houses and Flats Let Furnished:".

It does give me figures on a "Gas Copper" though :) Who would have thought that they were still around !!

Is there a general ruling for inbuilt kitchen appliances etc. ?

In particular, I am try to find the EL ruling on a dishwasher when installed in a rental property.

I've heard 5 years but, I need the exact ruling ?

Toyo
 
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Reply: 1
From: Toyo Spares


>Any body know what has
>replaced them ?

Nobody answered so I followed it up myself. What a good little soldier I am. Do I get an elephant stamp :)

The answer is Taxation Ruling 2000/18.

>In particular, I am try to
>find the EL ruling on a
>dishwasher when installed in a
>rental property.

Still no mention of dishwashers in the new document either. No mention of a "generic ruling" for kitchen appliances either.

Post 1 July 1991, you can either determine your own EL (by substantiated calculation) or use the ATO's published figures.

Washing machines are given an EL of 6 2/3 years. Assuming a washing machine is used once or twice weekly and a dishwasher is used every day (or every second day) then, a 5 year EL on a dishwasher compared to a 6 2/3 year EL on a washing machine sounds reasonable.

Toyo
 
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Reply: 1.1
From: The Wife


"Elephant Stamps ya"

:eek:)
 
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Reply: 1.1.1
From: Sergey Golovin


Toyo Spares,

I can understand what you say about ATO site.

If one wanted find info on anything it takes half-a-day literally half-a-day just only to navigate through that site. The site as complex as taxation it self.

All I can say - Well done.

Regards
Serge G.
 
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Reply: 1.1.1.1
From: Sergey Golovin


One more thing - Duncan was around (on this forum) while ago.
He seems to be an Expert in that field, ATO tricks.

Regards
Serge G.
 
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