Guide to depreciating assets 2012-13

Guide to claiming the decline in value of capital assets used in gaining assessable income, such as a car or machinery.

Last updated 3 March 2016

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About this guide

Abbreviations used in this publication

Carbon sink forests

Deductions for the cost of depreciating assets

The uniform capital allowance system

What is a depreciating asset?

Working out decline in value

Immediate deduction (for certain non-business depreciating assets costing $300 or less)

Effective life

Depreciating assets and taxation of financial arrangements (TOFA)

The cost of a depreciating asset

What happens if you no longer hold or use a depreciating asset?

Low-value pools

In-house software

Common-rate pools

Primary production depreciating assets

Capital expenditure deductible under the UCA

Small business entities

QC28182