Mastin Harris Accountants | Tax Hints & Tips – What Is Depreciation
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Tax Hints & Tips – What Is Depreciation

In simple terms, assets that cost more than $300 are deemed by the ATO to have an effective life of more than 1 year. Therefore, the ATO writes off the value of these over its deemed life. This is why that $1,500 laptop that you purchased for work will not be written off in the first year that you buy it, instead it will be written off over the next few years.

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