RE: Can residual value on asset depreciated on DV method be expensed if used longer than effective life

This thread is archived and the information may not be up-to-date. You can't reply to this thread.

(Community Support)Community Support

23 Aug 2023

When using the diminishing value method to depreciate an asset, it is not necessary to recalculate the assets effective life to ensure the asset is fully written off in that time period. You continue depreciating the asset past its effective life until the asset value reaches zero or the asset is no longer used in your business.

Further information and examples are provided on our website Prime cost (straight line) and diminishing value methods.

RE: Can residual value on asset depreciated on DV method be expensed if used longer than effective life

Explore tax & super topicsExplore tax & super topics

About usAbout us