save your calculations so they automatically populate future year amounts for use in your tax return, if you have a myGov account.compare depreciation amounts between the prime cost and diminishing value methods.calculate the decline in value on multiple assets.calculate your share of deprecating assets in a partnership.This tool is available to work out the depreciation of capital allowance and capital works for both individual and business taxpayers. Depreciation and capital allowances tool What you can do with this tool You can download your calculations for your records or to send to your tax professional. If you don't have a myGov account or your myGov account is not linked to the ATO, go to Create a myGov account and link it to the ATO. myGov account – Depreciation and capital allowances tool There are 2 ways you can access the tool:Īccessing the tool through myGov means you can save your records and calculations for use in your tax return. ![]() ![]() External Link ( Duration: 3:08) Go to the tool Media: How to use the Depreciation and capital allowance tool
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