ATO depreciation rates for field service assets assets in the General industry, under Income Tax (Effective Life of Depreciating Assets) Determination 2025 (LI 2025/20).
9 assets listed.
| Asset | Effective life | Prime cost rate | Diminishing value rate | Applicable from |
|---|---|---|---|---|
| Air compressors | 8 years | 12.50% | 25.00% | 1 July 2025 |
| Cranes | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Cutting machines | 8 years | 12.50% | 25.00% | 1 July 2025 |
| Diagnostic assets | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Lathes | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Line boring machines | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Milling machines | 8 years | 12.50% | 25.00% | 1 July 2025 |
| Service trailers (incorporating built-in hoses, built-in pumps, built-in tanks etc) | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Turning machines | 8 years | 12.50% | 25.00% | 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.