The Australian Taxation Office (ATO) has published Taxation Ruling (TR) 2022/1 - Income tax: effective life of depreciating assets, which is effective from 1 July 2022 and replaces Taxation Ruling (TR) 2021/3. Under Australian depreciation rules, taxpayers may choose to use the Commissioner's determination of the effective life of a depreciating asset as included in tables A and B of TR 2022/1…