Guide to depreciating assets 2007–08

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

Last updated 13 July 2020

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What's new – 2008 Budget

About this guide

Abbreviations used in this publication

Carbon sink forests

Deductions for the cost of depreciating assets

The uniform capital allowance system

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

QC27915