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Depreciation claim - calculate your tax deduction

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 this calculator when assets are purchased in earlier income years:

  • If you've already claimed depreciation in earlier years - enter 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.

Note: The depreciation rate for buildings with a life of 50 years is 0%.

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.

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