Depreciation

<p>Depreciation for tax purposes can get complicated because the government has a habit of changing the rules frequently. The most frequent changes involve changing the amount that Small Business Entities can write off / depreciate immediately. For the 2015/16 financial year, the Small Business Immediate Write Off amount is $20,000 excluding GST. This does make it easier to manage the accounts for a Small Business Entity because you can simply classify all depreciable assets costing less than $20,000 to Small <b>Business Immediate Write Off</b>.</p>