ATO depreciation rates for oil and gas extraction assets in the Mining industry, under Income Tax (Effective Life of Depreciating Assets) Determination 2025 (LI 2025/20).
16 assets listed.
| Asset | Effective life | Prime cost rate | Diminishing value rate | Applicable from |
|---|---|---|---|---|
| Boilers | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Boilers Circulation pumps 121/2 * 1 Jul 2002 | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Domestic gas processing assets (including centrifugal compressor, column, gas turbine, heat exchanger, piping and turbo expander) | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Flare towers for gas flares | 25 years | 4.00% | 8.00% | 1 July 2025 |
| Fuel gas systems | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Gas cleaning process assets (including electrostatic precipitators and baghouses) | 20 years | 5.00% | 10.00% | 1 July 2025 |
| Gas compressors used offshore Gas turbine drivers used offshore 121/2 * 1 Jul 2002 | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Gas recovery process assets (including stripping and absorption assets) | 25 years | 4.00% | 8.00% | 1 July 2025 |
| Gas storage tanks | 25 years | 4.00% | 8.00% | 1 July 2025 |
| Gas storage tanks and spheres | 25 years | 4.00% | 8.00% | 1 July 2025 |
| Infield gathering systems used for gas and associated water (including polyethylene (PE) pipes and pumps) | 20 years | 5.00% | 10.00% | 1 July 2025 |
| Infield pipeline Instruments (including level, pressure and 121/2 * 1 Jul 2002 temperature indicators) | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Infield pipelines Instruments (including level, pressure and 121/2 * 1 Jul 2002 temperature indicators) | 15 years | 6.67% | 13.33% | 1 July 2025 |
| LNG holding facility assets (including boil off gas compressors, cryogenic storage tanks, loading arms, pumps and tanks) | 30 years | 3.33% | 6.67% | 1 July 2025 |
| LNG train assets (including centrifugal compressors, columns, cryogenic heat exchangers, gas turbine drivers and other heat exchangers) | 30 years | 3.33% | 6.67% | 1 July 2025 |
| Shutdown and fire/gas systems | 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.