Hi dear,
For the financial year 22/23, ATO gives small business instant asset write-off incentive. Could the business choose not to use the instant write-off and use old slow depreciation method instead?
Best Regards
Danielle
Hey @Danielle19
It depends. If they're using simplified depreciation rules, they can't opt out of instant asset write off or temporary full expensing. Here's info about the interaction of the depreciation incentives.
Hey @Danielle19
It depends. If they're using simplified depreciation rules, they can't opt out of instant asset write off or temporary full expensing. Here's info about the interaction of the depreciation incentives.
22 Apr 2024 · 6 min read time
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