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    Depreciating after 10 years

    If your original provider is still around then they might be able to re-do it cheaply or for free. If not then you either have to do the maths (I would suggest putting this to your accountant first) or have it re-done. Whether you're under-claiming or over-claiming the following is true: the...
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    Depreciating after 10 years

    Ours go for the maximum 40 years. Not often necessary but sometimes useful. I do apologise; I meant it in jest and this was not a dig. However, you do say that your accountant is using conservative figures, which is tantamount to "making it up".
  3. B

    Depreciating after 10 years

    Ah, I see now. Your original provider should be able to update it for you. Otherwise, unfortunately the answer may well be "a fair amount of mathematics". The amount may depend on whether diminishing value or prime cost has been used. If fudging figures for a tax return is "old school" then...
  4. B

    Depreciating after 10 years

    You certainly can't do the latter (items don't just magically write off once you've owned them for ten years). I'm a bit puzzled about the former option. Where are you getting 10% from? Division 40 items all depreciate at different percentages, so for a start you couldn't just apply 10% to...
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