New vanity in owned for a while ip

[Brenda Irwin]

I have recently gotten the old, waterdamaged due tenants, vanity replaced for $200 and was wondering if it is depreciated at 2.5% over 40yrs or do I just put it through sundry expenses as full 100% deduction?

[abcdiamond]

The ATO have a brochure at ATO Rental properties 2003 (http://www.ato.gov.au/individuals/content.asp?doc=/content/31610.htm&page=5) and half way down the page it says:
You can claim an immediate deduction for a depreciating asset costing $300 or less if you use the asset predominantly to produce assessable income that is not from carrying on a business –for example, rental income where your rental activities do not amount to the carrying on of a business.

I'm not sure how that would work for you, but i'll watch this thread myself to see if anyone has a more definitive answer.

ABC

[geoffw]

Brenda,

Not sure from the wording whether you're asking about the old or the new vanity.

The old one would be written off, whatever residual value (if any) was left.

The new one I suspect ABCD has the answer.