Guide to depreciating assets 2003

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

Last updated 31 May 2005

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Deductions for the cost of depreciating assets

The uniform capital allowance system

Overview

Glossary

What is a depreciating asset?

Who can claim deductions for the decline in value of a depreciating asset?

Working out decline in value

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

Effective life

The cost of a depreciating asset

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

Common-rate pools

QC27453