ATO depreciation rates for forklift fuel tanks assets in the General industry, under Income Tax (Effective Life of Depreciating Assets) Determination 2025 (LI 2025/20).
6 assets listed.
| Asset | Effective life | Prime cost rate | Diminishing value rate | Applicable from |
|---|---|---|---|---|
| Aluminium tanks | 12 years | 8.33% | 16.67% | 1 July 2025 |
| Galvanised steel or steel tanks coated with zinc rich enamel | 15 years | 6.67% | 13.33% | 1 July 2025 |
| Hoses | 5 years | 20.00% | 40.00% | 1 July 2025 |
| In-situ permanently installed cylinders | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Leak detection systems | 8 years | 12.50% | 25.00% | 1 July 2025 |
| Leisure market cylinders (4.5 and 9 kgs capacity) | 15 years | 6.67% | 13.33% | 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.