Income Tax (Effective Life of Plant) Determination 2000 
Reference: Effective Life 2000/1
Document type: Legislative Instrument
Enabling act: Income Tax Assessment Act 1997
Date of issue: 21 December 2000
Signatory: DAVID EDWARD BUTLER, First Assistant Commissioner, Business Tax Reform, Delegate of the Commissioner


This Determination is the Income Tax (Effective Life of Plant) Determination 2000 . | This Determination commences on 1 January 2001. | All previous determinations of the effective life of plant for the purposes of the Income Tax Assessment Act 1997 are revoked. | (1) For subsection 42-110 (1) of the Income Tax Assessment Act 1997 , the effective life of plant is specified in Tables A and B. (2) If the entity depreciating plant is using the plant in an industry specified in Table A, Tables A and B are to be used as follows: (a) if the plant corresponds exactly to a description in Table A for the industry in which the plant is used, its effective life is the life specified for that plant; (b) if the plant: (i) does not correspond exactly to a description in Table A for the industry in which the plant is used; but (ii) satisfies the general description of plant used in the functional process of that industry - its effective life is the life specified in Table A for that class of plant; (c) if: (i) paragraphs (a) and (b) do not apply to the plant; and (ii) the plant corresponds to a description in Table B - its effective life is the life specified with that description. Note Table A is intended to describe plant: • that is peculiar to a particular industry; or • for which a particular effective life is appropriate because of the way in which a particular industry uses the plant. The industry headings in Table A have, where possible, been drawn from the classification subject categories in the Australian New Zealand Standard Industrial Classification (ANZSIC) Codes. (3) If: (a) the entity depreciating plant is not using the plant in an industry specified in Table A; and (b) the plant corresponds to a description in Table B - the effective life of the plant is the life specified with that description. Note If Tables A and B are not used, or cannot be used because: • the plant is not used in an industry specified in Table A; and • Table B has no description that corresponds to the plant - the way to work out the effective life of the plant is explained in section 42-105 of the Income Tax Assessment Act 1997 . | (1) For subsection 42-110 (1) of the Income Tax Assessment Act 1997 , the effective life of plant is specified in Tables A and B. (2) If the entity depreciating plant is using the plant in an industry specified in Table A, Tables A and B are to be used as follows: (a) if the plant corresponds exactly to a description in Table A for the industry in which the plant is used, its effective life is the life specified for that plant; (b) if the plant: (i) does not correspond exactly to a description in Table A for the industry in which the plant is used; but (ii) satisfies the general description of plant used in the functional process of that industry - its effective life is the life specified in Table A for that class of plant; (c) if: (i) paragraphs (a) and (b) do not apply to the plant; and (ii) the plant corresponds to a description in Table B - its effective life is the life specified with that description. Note Table A is intended to describe plant: • that is peculiar to a particular industry; or • for which a particular effective life is appropriate because of the way in which a particular industry uses the plant. The industry headings in Table A have, where possible, been drawn from the classification subject categories in the Australian New Zealand Standard Industrial Classification (ANZSIC) Codes. (3) If: (a) the entity depreciating plant is not using the plant in an industry specified in Table A; and (b) the plant corresponds to a description in Table B - the effective life of the plant is the life specified with that description. Note If Tables A and B are not used, or cannot be used because: • the plant is not used in an industry specified in Table A; and • Table B has no description that corresponds to the plant - the way to work out the effective life of the plant is explained in section 42-105 of the Income Tax Assessment Act 1997 . | (a) if the plant corresponds exactly to a description in Table A for the industry in which the plant is used, its effective life is the life specified for that plant; (b) if the plant: (i) does not correspond exactly to a description in Table A for the industry in which the plant is used; but (ii) satisfies the general description of plant used in the functional process of that industry - its effective life is the life specified in Table A for that class of plant; (c) if: (i) paragraphs (a) and (b) do not apply to the plant; and (ii) the plant corresponds to a description in Table B - its effective life is the life specified with that description. Note Table A is intended to describe plant: • that is peculiar to a particular industry; or • for which a particular effective life is appropriate because of the way in which a particular industry uses the plant. The industry headings in Table A have, where possible, been drawn from the classification subject categories in the Australian New Zealand Standard Industrial Classification (ANZSIC) Codes. | (i) does not correspond exactly to a description in Table A for the industry in which the plant is used; but (ii) satisfies the general description of plant used in the functional process of that industry - its effective life is the life specified in Table A for that class of plant; | (i) paragraphs (a) and (b) do not apply to the plant; and (ii) the plant corresponds to a description in Table B - its effective life is the life specified with that description. | • that is peculiar to a particular industry; or • for which a particular effective life is appropriate because of the way in which a particular industry uses the plant. | (a) the entity depreciating plant is not using the plant in an industry specified in Table A; and (b) the plant corresponds to a description in Table B - the effective life of the plant is the life specified with that description. Note If Tables A and B are not used, or cannot be used because: • the plant is not used in an industry specified in Table A; and • Table B has no description that corresponds to the plant - the way to work out the effective life of the plant is explained in section 42-105 of the Income Tax Assessment Act 1997 . | • the plant is not used in an industry specified in Table A; and • Table B has no description that corresponds to the plant -