Changes to Depreciation Rules 2013 Onwards - Small Businesses

Changes to simpler depreciation rules apply from the 2012-13 year as follows:


  • the small business instant asset write-off threshold has increased from $1,000 to $6,500
  • small businesses can claim an accelerated initial deduction for motor vehicles acquired in 2012-13 and subsequent years
  • the long life small business pool and the general small business pool have been consolidated into a single pool to be written off at one rate.
These changes only apply to if you are a small business that has an aggregated turnover of less than $2 million. Aggregated turnover includes the annual turnover of your small business and the annual turnovers of any connected or affiliated businesses.

See these posts with tips, calculators and checklists to help you prepare your eTax Return (and get a better refund) with less hassle - checklist of eTax and Assessable Income and deductions and checklist of eTax and Allowable Deductions.

 For help with your eTax return see our eTax Return Checklist.

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