ATO review of capital allowance assets

Posted on October 13, 2015 by ATB Chartered Accountants

The ATO has advised that it is reviewing business assets used by the following industries with a view to making new effective life determinations to ensure that they cover all assets commonly used by each industry, and reflect current industry practices and expectations:

• coal seam gas extraction
• computers and computer peripheral assets
• cured meat and smallgoods manufacturing
• dairy product manufacturing
• parking services
• postal services
• rigid and semi-rigid polymer product manufacturing
• bee farming plant
• pea-viners, pea cleaners, vine and straw conveyors
• fruit and vegetable processing
• grain mill product manufacturing
• cigarette and tobacco manufacturing
• pulp, paper and converted paper product manufacturing
• photographic film processing
• robotic milking machines
• hop growers’ plant
• poultry processing
• confectionary manufacturing
• soft drink, cordial and syrup manufacturing
• spirit manufacturing.

Source: ATO website, 7 August 2015.