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The Commissioner has set a general depreciation rate for "meal feeders, automated" by adding a new asset class in the "Agriculture, Horticulture and Aquaculture" industry category.
The Commissioner considers that the new asset class has an estimated useful life of 20 years.
Automated meal feeders are used by primary producers (farmers) to deliver supplementary dry and liquid feed to stock. For example, to cows while they are being milked. Automated meal feeder systems may also be used in other farming activities such as poultry or fish farming.
Although there may be variations to the overall design to meet the customised requirements of each user, an automated meal feeder system generally consists of:
This determination applies to taxpayers who own depreciable property of the kind listed in the table below.
This determination applies from the 2012 and subsequent income years.
Pursuant to section 91AAF of the Tax Administration Act 1994 the general determination will apply to the kind of items of depreciable property listed in the table below by:
|Agriculture, horticulture and aquaculture||
|Meal feeders, automated||20||10||7|
In this determination, unless the context otherwise requires, words and terms have the same meaning as in the Income Tax Act 2007 and the Tax Administration Act 1994.
This determination is signed on the 18th day of October 2012.
LTS Manager, Technical Standards