Capital allowances - Plant and Equipment Depreciation
There are two sets of rules you can use to work out how much you can claim for depreciating assets, such as plant and equipment - the simpler capital allowances rules concession and the uniform capital allowances rules.
Small businesses with aggregated turnover of less than $2 million can select the set of rules you prefer. Larger businesses must use the uniform capital allowance rules.
Simpler capital allowances (depreciation) rules concession
These rules provide a simplified approach to claiming depreciation on your assets. They are particularly suited to small businesses.
Uniform capital allowances rules
These rules allow you to choose from two methods to calculate how to depreciate your business assets - the prime cost method and the diminishing value method.
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