Used mainly to produce non-business assessable income

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This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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Some examples of depreciating assets used to produce non-business income are:

• a briefcase or tools of trade used by an employee
• furniture in a rental property
• a calculator used in managing an investment portfolio.

To claim the immediate deduction, you must use the depreciating asset more than 50% of the time for producing non-business assessable income.

If you meet this test, you can use the asset for other purposes (such as to carry on a business) and still claim the deduction. However, if you do not use the asset mainly for producing non-business assessable income, you will not be able to claim the deduction.