ATO depreciation rates for seismic survey assets assets in the Mining 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 |
|---|---|---|---|---|
| Airguns | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Buggy mounted shear wave vibrators | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Cabling | 3 years | 33.33% | 66.67% | 1 July 2025 |
| Geophones | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Global positioning systems | 5 years | 20.00% | 40.00% | 1 July 2025 |
| Ground impactors | 4 years | 25.00% | 50.00% | 1 July 2025 |
| Processing systems | 3 years | 33.33% | 66.67% | 1 July 2025 |
| Recording systems | 10 years | 10.00% | 20.00% | 1 July 2025 |
| Total stations (including mechanical, manual, motorised, auto lock, robotic, universal and multi-stations) | 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.