Write off asset written down value less than $300

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

(Initiate)Initiate

1 Feb 2024

Our client owns multiple residential rental properties and maintains an asset register for all depreciable assets. Over the years, these assets have depreciated to a point where the written down value as of the beginning of the financial year, i.e., 1/7/22, is less than $300. Is the client permitted to write off assets with a written down value below $300?

0 likes

686 views