Owning Property · Koste Knowledge Base
What is the Effective Life of Building Assets Under the ATO?
Quick Answer
The ATO defines the effective life of building assets, impacting how depreciation is calculated under **Division 40 of ITAA 1997**. Effective life varies by asset type, with guidelines in TR 2023/1. This affects the depreciation rate and tax deductions available. Consult a Chartered Quantity Surveyor for precise asset assessments.
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