Hi, I am trying to find details regarding small business pool depreciation threshold. If a client previously used temporary full expensing and has now purchased a high value piece of equipment - $700k. I can't find anywhere whether this can be depreciated in the pool at 15% or if it needs to be depreciated on at the normal rates? Thank you
Hi @anharri,
If your client chooses to use the simplified depreciation rules, any depreciating assets for which they can't claim an immediate deduction under instant asset write-off or temporary full expensing, are allocated to a small business depreciation pool.
This includes assets that:
They claim:
For certain new assets of $150,000 or more first held from 12 March 2020 to 7.30pm AEDT 6 October 2020, they can use an accelerated depreciation rate of 57.5% under backing business investment – accelerated depreciation when they first add them to the pool.
For more details Small business pool calculations.
Hi @anharri
We'll check this out with our business team. Stay tuned!
Hi @anharri,
If your client chooses to use the simplified depreciation rules, any depreciating assets for which they can't claim an immediate deduction under instant asset write-off or temporary full expensing, are allocated to a small business depreciation pool.
This includes assets that:
They claim:
For certain new assets of $150,000 or more first held from 12 March 2020 to 7.30pm AEDT 6 October 2020, they can use an accelerated depreciation rate of 57.5% under backing business investment – accelerated depreciation when they first add them to the pool.
For more details Small business pool calculations.
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