Tip regarding the useful life of depreciable assets

For the purposes of depreciation, taxpayers have the right to ignore the ATO effective life rates contained in Tax Ruling TR 2014/4 and instead adopt their own calculation of the useful life of a business asset. Taxpayers who elect to use their own calculation of useful life must be able to support their contention that the asset undergoes heavy usage. This strategy can result in substantial cash flow benefits by bringing forward deductions