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Thread: Tax - depreciating assets

  1. #1
    Member Redeye's Avatar
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    Default Tax - depreciating assets

    going bonkers trying to work this out....my new ztr can be immediately written off (new rules, under $20 000.....) how exactly do you do this, I can't see anything/anywhere on the tax return that seems to relate to this (I've never done anything this complicated on my tax returns before) which actual Item is it? D(?)????
    Seriously doing my head in, and no I don't want to get an accountant.......anyone?!?!




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    "All sin is washed away in the Holy goodness of Beer"
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  2. #2
    Senior Member steveo's Avatar
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    Default Re: Tax - depreciating assets

    I could be wrong here but is it as simple as treating the item just as you would a pair of gloves, a tank of fuel or whatever else you claim as an expense? So however you claim the gloves, fuel etc well that's what you do with the mower. I claimed my old ute immediately as for that year you could write off anything less than 6grand. The accountant did it for me but when i get a chance I'll have a look and see what he did.

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    Member Redeye's Avatar
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    Default Re: Tax - depreciating assets

    thanks steve!
    ........................




    http://curraronggardening.com/

    "All sin is washed away in the Holy goodness of Beer"
    Book of Redeye, Psalm 69

  4. #4
    Senior Member steveo's Avatar
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    Default Re: Tax - depreciating assets

    had a look and it's just claimed as an equipment expense. If still not sure send the ATO an email.

  5. #5
    Member Redeye's Avatar
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    Default Re: Tax - depreciating assets

    cheers mate..................




    http://curraronggardening.com/

    "All sin is washed away in the Holy goodness of Beer"
    Book of Redeye, Psalm 69

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