where's ATO depreciation schedule for 2011 tax yr?

Discussion in 'Accounting and Tax' started by cadence, 31st Jul, 2011.

  1. cadence

    cadence Member

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    Sydney NSW
    hey guys, anyone has a link to the depreciation schedule?

    trying to work out how many years of useful life my new hot water system has ...
     
  2. damacc

    damacc Member

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    28th May, 2011
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    Gold Coast, QLD
    If you have a copy of the ATO's Rental Property Guide 2011 the depreciation rates are in the back of it.

    Depending on the cost of your new hot water system as to whether you need the depreciation rate or not.
     
  3. depreciator

    depreciator Member

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    17th Dec, 2004
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    Location:
    Sydney, NSW
    If it's gas or electric, it has a 12 year Effective Life.

    Using the Diminishing Value method (which everyone does) that means it depreciates at 16.67% per year on the diminishing value.

    If it is worth less than $1,000 and you are using the Low Value Pool, you can put it straight into the Pool - 18.75% yr 1 and 37.5% per year after that (on the diminishing value).

    And if it starts out more than $1,000 you can put it into the Pool when it falls below that in value.