Effective Life Of Solar Panels Ato

While i m confident that a good quality well installed solar system will last over 25 years the ato thinks that any given solar system s effective life will only be around 20 years.

Effective life of solar panels ato. In its latest determination the ato has ascribed 20 years as the effective life of solar panels and therefore they are depreciable over this time period. I would like to depreciate this item but this asset is not listed on the ato depreciating items. Still that s a long time you can claim depreciation and offset the tax payable on the additional income you can charge from putting a system on a roof. How the ato determines the effective lives of assets.

Completed effective life reviews. The ato determines effective lives through an effective life review process. The schedule of effective life determinations has been progressively updated since 1 january 2001. I wonder if i can use the guarantee which is 5 years as useful life for calculating depreciation.

Below are the ato effective lives for residential property as at the 1st of july 2017 from tr 2017 2. Recalculating a depreciating asset s effective life. The effective life legsilation has been updated. Good morning i have an investment property and i have replaced the inverter of the solar panels.

The following is a list of effective life reviews that have been completed including the date of effect of the new effective lives.