ATO depreciation rates for concertinas, organs, pianolas and pianos) assets in the General industry, under Income Tax (Effective Life of Depreciating Assets) Determination 2025 (LI 2025/20).
5 assets listed.
| Asset | Effective life | Prime cost rate | Diminishing value rate | Applicable from |
|---|---|---|---|---|
| Acoustic | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Electric | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Percussion instruments (including chimes, cymbals, drums, gongs, maracas and tambourines) | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Stringed instruments (including banjos, basses, cellos, guitars, harps, mandolins, tiples, ukuleles, violas and violins) | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Woodwind instruments (including bagpipes, bassoons, clarinets, flutes, oboes, pan pipes, piccolos and recorders) | 10 years | 10.00% | 20.00% | 1 July 2025 |
The effective lives shown above are determined by the Commissioner of Taxation under section 40-100 of the Income Tax Assessment Act 1997. The diminishing value rate equals 200% ÷ effective life (for assets acquired on or after 10 May 2006). The prime cost rate equals 100% ÷ effective life. You may alternatively self-assess effective life — see the ATO website for guidance.