Guide to depreciating assets 2015

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

Last updated 19 November 2015

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About this guide

Abbreviations used in this publication

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 of a depreciating asset

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

Record keeping

QC44162