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  • Depreciation and capital allowances tool

    This tool will help you calculate the deduction available from a depreciating asset, or claims you are entitled to for capital allowance and capital works purposes.

    What this tool does

    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 disposal amounts, including balancing adjustments
    • 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.

    You cannot use this tool if you:

    • are claiming the asset as an immediate deduction (certain assets costing $300 or less)
    • are a small business entity and use simplified depreciation rules (instant asset write-off)
    • 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.

    See also:

    Next steps:

    How to use the tool

    This video shows you how to use the Depreciation and capital allowances tool to help you complete your myTax return.

     
    Last modified: 02 Jul 2018QC 17601