Depreciation and capital allowances tool

Work out the deduction you can claim from a depreciating asset for capital allowances and capital works purposes.

On this page

• Before you use this tool
• What this tool does
• What this tool can't do
• Access the tool

Before you use this tool

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

The tool includes updates to reflect tax depreciation incentives for eligible businesses, including:

• temporary full expensing – originally applied until 30 June 2022 and it has now been 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.

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 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.

What this tool can't do

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.

Access 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.

If you don't have a myGov account or your myGov account is not linked to the ATO, go to Create your myGov account and link it to the ATO.

Access the tool without a myGov account

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