Show download pdf controls
  • Depreciation and capital allowances tool

    This tool will help you calculate the deduction available from a depreciating asset. It will also assist you to calculate the claims you are entitled to for capital allowance and capital works purposes.

    Use this tool if you need to:

    • calculate the decline in value on multiple assets
    • compare depreciation amounts between the prime cost and diminishing value methods
    • determine disposal amounts, including balancing adjustments
    • work out your    
      • small business depreciation
      • motor vehicle depreciation
      • capital works depreciation
      • low value pool depreciation
      • rental property depreciation
      • partnership depreciation
      • asset based depreciation.
    • save your calculations so they automatically populate future year amounts for use in your tax return if you have a myGov account
    • print your records and calculations for any asset if you do not have a myGov account.

    You should not use this tool if:

    • you are claiming the asset as an immediate deduction (i.e. certain assets costing $300 or less)
    • you have complex depreciation claims, for example intangible depreciating assets including in-house software, an item of intellectual property (except a copyright in a film) or a telecommunications site access right.

    This video shows you how to use the Depreciation and Capital Allowances tool to help you complete your myTax return.


    Changes for small business entities

    From 1 July 2016, businesses with a turnover of less than $10 million can access a range of concessions, such as simplified depreciation for small business – which includes the instant asset write-off.

    See also:

    Amending your tax return

    If you change or add any details relating to an income year for which you have already lodged a tax return, you may need to amend that return.

    Next steps:

    Last modified: 22 Jun 2017QC 17601