Depreciation claim - calculate your tax deduction
About this calculator
This calculator is used to calculate depreciation on a business asset. You will need to know the depreciation rate that applies to the asset - you can get this from our depreciation rate finder.
Use of this tool does not result in data being submitted to us.
When to use this calculator
As part of Budget 2010 the Government has announced changes to depreciation.
- The loading component of the calculation no longer applies to assets purchased on or after 21 May 2010.
- From the 2011-12 income year the rate for buildings with an estimated life of more than 50 years will be zero.
A new version of this calculator incorporating these changes will be available from the start of the 2011-12 income year.
Use this calculator when assets are purchased in earlier income years:
- If you've already claimed depreciation in earlier years - enter the adjusted tax value as the purchase price and the first day of this income year as the purchase date.
- For buildings that you haven't depreciated before - use the original purchase price.
- For other assets that you haven't depreciated before - use the current market value.
Do not use this calculator for petroleum mining assets as different depreciation rules apply to them. For more information please contact us or your tax advisor.
Note: Assets costing $500 or less (including loose tools) may not need to be depreciated.
This calculator will take about five minutes to complete.
What you will need
- your balance date
- the cost of the asset (if you are GST-registered, use GST-exclusive cost; if not GST-registered, use GST-inclusive cost)
- date of purchasing the asset
- the percentage of business use - if not 100%
- details of any assets you have sold or disposed of.
After you finish
If you're printing pages for several assets, these details will allow you to distinguish between the pages. They are not recorded by the website or stored in any other way.
No information you provide while using the calculator is recorded, saved or in any way referenced by Inland Revenue. The calculator is stored on a secure part of our website to prevent unauthorised interception. If you are unable to access the calculator, you may need to update your browser and/or firewall settings.