49 Small business entity simplified depreciation

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Small business concessions: changes to simpler depreciation rules

The law changed with effect from 1 January 2014 to reduce the instant asset write-off threshold from $6,500 to $1,000.

Further changes also apply between 7.30pm (AEST) 12 May 2015 and ending on 30 June 2017 that temporarily increase the instant asset write-off threshold from $1,000 to $20,000 for assets that are acquired and installed ready for use during this period.

See also:

• Simplified depreciation rules

To complete this item, use the amounts calculated for small business entity depreciation deductions at K item 5. Show at:

• A Deduction for certain assets, the total amount claimed relating to these assets
• B Deduction for general small business pool, the total amount claimed relating to the general small business pool.