The Australian Taxation Office (ATO) has published Taxation Ruling (TR) 2020/3 - Income tax: effective life of depreciating assets, which is effective from 1 July 2020 and replaces Taxation Ruling (TR) 2019/5.

Under Australian depreciation rules, taxpayers may choose to use the Commissioner's determination of the effective life of a depreciating asset as included in tables A and B of TR 2020/…