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Decline in value calculator

Version 5.1.1
Takes 2 to 5 minutes to complete for each asset
This calculator will perform:
  • a calculation of the deduction for decline in value of a depreciating asset
  • a calculation of the total deduction for decline in value in the current income tax year for up to eight assets
  • disposal calculations including balancing adjustments and capital gains
  • comparisons between the alternative decline in value methods – diminishing value and prime cost.
This calculator should only be used where:
  • you acquired the asset after 21 September 1999 (30 June 2001 for small business taxpayers)
  • your non-taxable use – such as private use – does not vary from year to year
  • you have not added to, or reduced the cost of, the asset after the date of acquisition – for example, you have not made any improvements to the asset.
This calculator should not be used for:
  • assets for which you can claim an immediate deduction – such as certain assets costing $300 or less
  • assets with an effective life of two years or less
  • calculations involving involuntary disposals, roll-over relief, changed effective life, insurance company assets, small business entity assets
  • or pooled assets
  • a car for which the first element of cost exceeds the car limit, or balancing adjustment calculations for cars subject to the car limit
  • balancing adjustment calculations for cars where the car expenses were claimed under the 12% of cost or cents per kilometre methods
  • blackhole expenditure
  • film copyright expenditure, or depreciating assets for which deductions are available under the specific film provisions
  • depreciating assets for which there has been a variation in your non-taxable use of the asset
  • depreciating assets that have any second element costs
  • depreciating assets for which there has been a change to the cost of the asset after the date it is first held
  • depreciating assets that are eligible capital works for which deductions are available under the separate provisions for capital works
  • depreciating assets used in exploration or prospecting
  • water facilities and horticultural plants
  • certain depreciating assets used in landcare operations, for electricity connections or phone lines, or that are used in carrying on research and development activities.

Information you will need:

Disclaimer

This calculator:
  • gives an estimate based on the information you have provided
  • does not determine your eligibility to a deduction.

Where projections are made in a report beyond the end of an already completed income year, the projections in the report assume there is no change to the asset details you provided or the applicable law before the end of the relevant income year.

Takes 2 to 5 minutes to complete for each asset