Update on depreciating assets for the fitness and health industry
Thank you to all fitness businesses who participated in the review on the effective life of depreciating assets for the health and fitness industry.
A list of new determinations for the health and fitness industry is now published on page 196 of 220 of Taxation Ruling TR 2012/2.
These effective lives apply to new depreciating assets acquired on and from 1 July 2012. We understand that these lives may not be suitable for all users and taxpayers have the choice of self assessing their own effective lives due to individual circumstances.
For further details/clarification please contact Susan Li at the Australian Taxation Office by phone 07 3119 9891 or email email@example.com.