I purchased a mobile phone that is 100% for work purposes and in my previous tax return began to depreciate it over 3 years. It has now completely broken after an accident (beyond repair). In my next tax return am I able to depreciate the remaining value and then commence the depreciation of the new phone I purchased, or do I have to continue to depreciate it over the 3 year period?
Balance of unclaimed depn is written off in the year phone was scrapped.
Balance of unclaimed depn is written off in the year phone was scrapped.
What does written off mean? Does that mean you can deduct the full balance?
I am in a similar boat - I have a work phone that was ~600 (200ish per year) and broke with 2yrs left on useable life. Does this mean I can claim $400 this FY and then claim on the new phone too?
22 Apr 2024 · 6 min read time
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