My question is can if a company has a small amount of depreciation remaining on depreciating assets that were purchased years ago, can that company write of the remaining amounts of $3000 in the 2019 tax year? Due to all the changes that happened with covid and depreciation rules. Is there any ruling that says a company could write off the remaining amount due to covid effecting their trading?
Hi @Rumbear86
There were depreciation incentives that were introduced to help businesses recover from the impacts of Covid-19.
Check these out to see if your business is eligible to apply an incentive to accelerate depreciation or write off your balance.
Hi @Rumbear86
There were depreciation incentives that were introduced to help businesses recover from the impacts of Covid-19.
Check these out to see if your business is eligible to apply an incentive to accelerate depreciation or write off your balance.
22 Apr 2024 · 6 min read time
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