Car cost limit for depreciation
Created by: Christopher Le
Modified on: Mon, 24 Jun, 2019 at 3:22 PM
If its a luxury car, do not continue to read this article, instead click here.
You can only claim depreciation for the vehicle up to a certain limit. The excess is non-depreciated.
For example, if a car was purchased for $60,000 in 2020 financial year, then depreciation can be claimed up to the 2020 threshold of $57,581 (see below) for the duration of ownership.
Last modified: 19 Jun 2019 QC 21100
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