• 49 Small business entity simplified depreciation

    Attention

    Warning:

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

    End of attention

    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:

    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.
    Last modified: 21 Jan 2016QC 44346