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The Commissioner has considered a general depreciation rate for printing machines that use integrated technologies that consist of a screen printer type base (base printing machine) with a multiple-head inkjet print shuttle (digital print head) to form a new hybrid machine.
Although these machines are manufactured as one unit, the two key integrated components utilise different technology, therefore the lives of the base printing machine and digital print head could be different. A weighted average calculation has been applied by the Commissioner to arrive at an estimated useful life for the asset as a whole. The weighted average calculation more accurately reflects the economic life of the asset and recognises that some components contribute unequally to the life of an asset.
The general depreciation rate applies to these printing machines only. Other machinery that can be linked to these printing machines (examples being, dryer and in-line stacking machines) appear to be quite conventional and are covered by other general depreciation rates applicable to these other machines.
This determination may be cited as "Determination DEP84: Printing machines (automated inkjet flatbed)"
This determination applies to taxpayers who own items of depreciable property of the kind listed in the tables below:
This determination applies for the 2014 and subsequent income years.
Pursuant to section 91AAF of the Tax Administration Act 1994 I set in this determination the economic rate to apply to the kind of items of depreciable property listed in the table below by:
Adding into the "Packaging (excluding plastic packaging)" and "Printing and photographic" industry categories, the new asset class, estimated useful life, and general diminishing value and straight-line depreciation rates listed below:
|Printing machines (automated inkjet flatbed)||10||20||13.5|
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 by me on the 30th day of May 2013.
(Acting) LTS Manager, Technical Standards