Home – New Forums Money matters Depreciation of Assets Reply To: Depreciation of Assets

James Millar
  • Total posts: 1,739

If you’re a small business entity you’re probably better off going with the simplified depreciation and pooling method. Important amendments in 2013 year allow first $6500 to be write off immediately (was $1000) and first $5000 of motor vehicles.

You get a flat rate 15% on other assets for first year (even if acquired at 30 June) and then 30% each year thereafter. It’s faster to administer and often produces better tax outcomes upfront.

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900