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  • Plant owned for only part of a year



    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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    When you acquire a depreciable item of plant, you can depreciate it only for the part of the year that you owned it. For example, if you purchased an item 3 months before the end of an income year, you would be entitled to 25 per cent of a full year's deduction for depreciation.

    If your plant was sold, lost or destroyed during an income year, you are allowed a partial depreciation deduction for the time in that year that you owned the plant. Refer to What happens if you no longer own an item of plant.

    Last modified: 13 Feb 2020QC 27380