Small business concessions – simplified depreciation rules
In 2023–24, the instant asset write-off applies to small business entities using the simplified depreciation rules.
To complete this item, use the amounts the company calculated for small business entity depreciation deductions in the Worksheet for item 6 – label X Depreciation expenses. For more information, see Small business entities.
A – Deduction for certain assets (costing less than the relevant instant asset write-off threshold)
Transfer the deduction for certain assets at row a in the Worksheet to item 10 – label A. Don't show cents.
B – Deduction for general small business pool
Add up the general small business pool deduction amounts at rows b and c in the Worksheet. Write the total at item 10 – label B. Don't show cents.
The total of item 10 – label A and item 10 – label B combined can't be more than the amount entered at item 6 – label X Depreciation expenses.
Continue to: 11 Consolidation deductions
Return to: Instructions to complete the Company tax return 2024