We’re in read-only mode while we do some scheduled maintenance to bring you a bigger, better and brighter online community. You can still search the site to find answers or take a look at our current top 10 questions.
6 April 202111:14 PM - edited 6 April 202111:44 PM
The ATO webpage for calculating the decline in value of a depreciating asset gives two formulas for the diminishing value method, depending on when you began holding the asset. However, both formulas are exactly the same:
This surprised me, so I had a quick look at the history of the page. Assuming the formulas ought to be different, the page has been incorrect for almost two years. However, the incorrect information provided has changed. Back in August 2019 (the earliest snapshot available), both formulas had numerators of 150%. Then, somewhere between August 2020 and January 2021, both numerators were updated to 200% (despite this being inconsistent with the webpages stating they were "Last modified: 07 Apr 2020"):