ATO Depreciation Rates 2023

Table A
NameEffective LifeDiminishing Value RatePrime Cost RateDate of Application
MANUFACTURING:
Petroleum refining:
Oil refinery assets:
Assets used in other processes:
Drums:
Used in amine treating, bitumen blowing, potassium carbonate treating or vacuum distillation15 years13.33%6.67%1 Jul 2002
Filters/coalescers:
Used in amine treating, continuous coking, delayed coking, potassium carbonate treating, visbreaking or vacuum distillation20 years10.00%5.00%1 Jul 2002
Gas absorbers:
Used in amine treating or potassium carbonate treating20 years10.00%5.00%1 Jul 2002
Heat exchangers:
Used in amine treating, bitumen blowing, catalytic de-waxing, continuous coking, delayed coking, hydrodesulphurisation, hydrotreating, potassium carbonate treating, vacuum distillation or visbreaking20 years10.00%5.00%1 Jul 2002
Pumps:
Used in amine treating, bitumen blowing, catalytic de-waxing, continuous coking, delayed coking, potassium carbonate treating, vacuum distillation or visbreaking20 years10.00%5.00%1 Jul 2002
Storage tanks:
Used in amine treating, merox extraction, merox sweetening or potassium carbonate treating20 years10.00%5.00%1 Jul 2002
Strippers:
Used in amine treating or potassium carbonate treating20 years10.00%5.00%1 Jul 2002

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Source: TR 2022/1