> the small business instant asset write-off threshold has been increased from $1,000 to $6,500
> the long-life small business pool and the general small business pool have been consolidated into the general small business depreciation pool to be written off at the rate of 30% (15% in the first year).
> small businesses can claim an immediate write off of the first $5,000 of any motor vehicle purchased after 1 July 2012. The remainder of the purchase price can be transferred into the general business depreciation pool.
Extra Bonus – If the balance of a pool after taking into account any additions and disposals, but before reducing it for any deductions, is below $6,500 but greater than zero you can claim a deduction for the remaining amount. The closing balance then becomes zero.
NB! If you also use depreciable assets to earn non-business income (such as salary and wages) you are also permitted to use the Simplified Depreciation Rules for those assets even though they are not used in the SBE. This does not apply to property that is subject to a depreciating asset lease, such as long term rental property assets.
For more information refer to the SBE Depreciation links below.