ATO depreciation rates for exploration assets assets in the Mining 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 |
|---|---|---|---|---|
| Aircraft demountable Down hole geophysical assets (including acoustic televiewers, callipers, density tools, dipmeters, draw works, neutron probes, sonic probes, receiver/transmitter modules and | 8 years | 12.50% | 25.00% | 1 July 2025 |
| Down hole geophysics units – skid mounted | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Down hole geophysics units – truck mounted | 12 years | 8.33% | 16.67% | 1 July 2025 |
| Ground geophysical assets (including gravity instruments, resistivity receivers and transmitters, scintillometers and spectrometers) | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Portable ground geophysical assets (including electromagnetics, ground magnetics, ground penetrating radars and radiometrics) | 5 years | 20.00% | 40.00% | 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.