Is subsection 40-80(2) ITAA 1997 immediate $300 deduction compulsory?

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 · Accepted Answer

Deb_ATO · Answer

Not necessarily, only if you meet the 4 tests to claim the immediate deduction. You can check it all out and work out what you meet or don't meet in Costs of depreciating assets. (https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/tools-computers-and-items-you-use-for-work/depreciating-assets-you-use-for-work#:~:text=An%20immediate%20deduction,life%20where%20either%3A)

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