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Last updated 31 May 2005

Under the UCA, there are a number of steps in working out your deduction for the decline in value of a depreciating asset:

Is your asset a depreciating asset covered by the UCA?

see What is a depreciating asset?

Do you hold the depreciating asset?

see Who can claim deductions for the decline in value of a depreciating asset?

Has the depreciating asset started to decline in value?

see When does a depreciating asset start to decline in value?

What method will you use to work out decline in value?

see Methods of working out decline in value

What is the effective life of the depreciating asset?

see Effective life

What is the cost of your depreciating asset?

see The cost of a depreciating asset

Must you reduce your deduction for any non-taxable use?

see Decline in value of depreciating asset used for non-taxable purpose

Some of these steps do not apply:

  • if you choose to allocate an asset to a pool
  • if you can claim an immediate deduction for the asset
  • to certain primary production assets
  • to some assets used in rural businesses.

See Working out decline in value.