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[541] Primary production industry - grain, cotton and rice segments draft effective lives released.
Australasian Business Intelligence, April, 2006
Byline: Terry Hayes
Apr 10, 2006 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office (ATO) has released a draft list of depreciating assets used in the primary production industry. Associated draft effective lives for assets used in the grain, cotton and rice segments have also been made public. The list contains new effective life determinations proposed to be added to the Commissioner's schedule effective from 1 July 2006. The ATO is currently reviewing effective lives for such segments of the primary industry as water facilities (dams and pumps), tractors on-farm vehicles, sheds, fences, bores, and bore casings. The review will be completed in November 2006.
Publication Date: 31 March 2006
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