Filing Cabinet [Archive] - Somersoft Property Investment Forums

Cheeks

17-09-2005, 07:05 PM

Hi

I'll be purchasing a filing cabinet for my investment paperwork.

If I spend over $300 do I have to depreciate it or can I claim it in one hit?

What is the maximum I can spend before I have to start depreciating something?

Thanks

Cheeks

19-09-2005, 08:12 PM

And the answer is: If it is over $300 it will need to be depreciated.

Jacque

19-09-2005, 11:59 PM

Why not buy a cheap one on ebay and save some cash?

http://cgi.ebay.com.au/FILING-CABINET-FOUR-DRAWER_W0QQitemZ7546673459QQcategoryZ105851QQrdZ1QQcmdZViewItem

Cheeks

20-09-2005, 01:19 AM

By the time I get it to Karratha it'll cost a lot more than $300

muppie

20-09-2005, 01:57 AM

What's the difference between this $300 and $1000 for company in STS? Whom does the $300 limit apply to?

Mry

20-09-2005, 07:18 AM

The $300 applies to non-business taxpayers. Business taxpayers have no $300 threshold unless they apply to use STS which means that they can use the $1,000.

Brenda Irwin

20-09-2005, 07:45 AM

For an individual owner with a purchase price of less than $1000, you could start a low value pool. Depreciation is 18.75% in the first year, regardless of what date in the year you obtained it. Every year thereafter is 37.5%.
If the filing cabinet is more than $1000, my accountant has advised me to depreciate over 13 1/3 yrs at 11.25% per annum. The first year is divided by the number of days in the year, then multiplied by the number of days held in the first year.