Depreciation and capital allowances tool

Go to the tool

There are 2 ways you can access the tool:

• using your myGov account
• without a myGov account.

Access the tool using your myGov account

Accessing the tool through myGov means you can save your records and calculations for use in your tax return.

myGov account – Depreciation and capital allowances tool

To use this tool you need to Create a myGov account and link it to the ATO. If you have a myGov account sign in after selecting the calculator link above to go direct to the tool.

Access the tool without a myGov account

You can download your calculations for your records or to send to your tax agent.

Depreciation and capital allowances tool

What you can do with this tool

This tool is available to work out the depreciation of capital allowance and capital works for both individual and business taxpayers.

You can use this tool to:

• calculate the depreciation amounts for
  • rental properties
  • your small business pool
  • your low-value pool
  • capital works
  • asset-based depreciation
• calculate your share of deprecating assets in a partnership
• calculate the decline in value on multiple assets
• compare depreciation amounts between the prime cost and diminishing value methods
• determine balancing adjustment amounts
• save your calculations so they automatically populate future year amounts for use in your tax return, if you have a myGov account
• save your calculations for your records or send them to your tax agent.

The tool has been updated to include information on the following tax depreciation incentives for eligible businesses:

• Temporary full expensing – originally applied until 30 June 2022 and was extended until 30 June 2023
• Backing business investment – accelerated depreciation.

To work out how these incentives may apply to you, see Interaction of tax depreciation incentives.

Limitations

You can't use this tool if you:

• are claiming an immediate deduction for the asset (certain assets costing $300 or less for individuals)
• are a small business claiming an immediate deduction for assets costing less than the instant asset write-off threshold
• have complex depreciation claims – for example, intangible depreciating assets including in-house software, an item of intellectual property (except a copyright in a film) or a telecommunications site access right.

What else you can do

Find out more about how to claim the cost of capital assets over time, see Depreciation and capital expenses and allowances.