ATO depreciation rates for in an oil refinery assets in the Mining industry, under Income Tax (Effective Life of Depreciating Assets) Determination 2025 (LI 2025/20).
4 assets listed.
| Asset | Effective life | Prime cost rate | Diminishing value rate | Applicable from |
|---|---|---|---|---|
| Control systems | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Fractionation train assets (including air coolers, columns, compressors, heat exchangers, piping and pumps) Hot water system assets 171/2 *# 1 Jul 2002 Instruments 121/2 * 1 Jul 2002 | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Stabiliser process assets (including columns, heat exchangers, pumps and reciprocating compressors) | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Storage and loading assets (including cryogenic storage tanks, jetties, loading arms, LPG chillers and pumps) | 30 years | 3.33% | 6.67% | 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.