bO2 2021 Effective Lives

James Murphy Tax

The ATO has a dedicated team whose role is to update and expand the Commissioner’s effective life schedule attached to Taxation Ruling TR 2020/3.  This is achieved by staff undertaking effective life reviews, either of a single asset (such as concrete truck mixers), or an industry (e.g. professional photographic services). Broadly, these reviews involve: Identifying the assets currently used in ...

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