The tax office publishes a list, annually, of "the effective life of depreciating assets". This allows companies to look up a particular asset and see what the tax office claims to be the effective life.
Today's post is just to let you all know that the effective life of a stuffed crocodile is 20 years.
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Not quite true. The commissioner publishes the effective list of depreciating assets. From time to the time the commissioner will announce a review of certain asset classes. The last review was released by the publication of tax ruling TR 2009/04. It replaced TR 2008/4. In the 2009 review the commission reviewed;
ReplyDelete Peanut processing assets
Soft drink manufacturing assets
Glass and glass product manufacturing
Iron smelting and steel manufacturing
Poker machines
Commercial vessels
Scenic and sightseeing transport
Automotive car washing assets
Automotive smash repair assets
Packaging assets
There has been no review of Stuffed Crocodiles since 2001. I suspect that given that nasty incidence with Steve Irwin and the fact that his destitute wife has been unable to buy new clothes since - that a review is imminent.