how is car depreciation calculated for a $40,000 car purchased in FY24?
1,226 views
1,226 views1 replies
1 replies
1,226 views
1 replies
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
Hi @DJA
If you're using the cents per km method to work out your car expenses that method already includes depreciation.
There are a couple of ways to depreciate your car if you don't use that method.
You can use simplified depreciation. If you can't claim an immediate deduction under instant asset write off, you can allocate your car to the small business pool and depreciate it at 15%. Our website has more details about working out your deduction.
You can use the general depreciation rules. You can claim the decline in value of the car over its effective life.
The links to our website have more info for you. Also don't forget! You can't claim any private use, and can only claim the business portion.
All replies
Hi @DJA
If you're using the cents per km method to work out your car expenses that method already includes depreciation.
There are a couple of ways to depreciate your car if you don't use that method.
You can use simplified depreciation. If you can't claim an immediate deduction under instant asset write off, you can allocate your car to the small business pool and depreciate it at 15%. Our website has more details about working out your deduction.
You can use the general depreciation rules. You can claim the decline in value of the car over its effective life.
The links to our website have more info for you. Also don't forget! You can't claim any private use, and can only claim the business portion.
Featured articles
22 Apr 2024 · 3 min read time
15 Apr 2026 · 4 min read time