An immediate deduction can be claimed for assets costing less than $100 GST inclusive (e.g. minor tools).
A tax deduction can be claimed for depreciable assets that are scrapped or sold for less than their written down value.
Assets costing less than $1,000 GST exclusive can be allocated to a “low value pool” and depreciation claimed of 18.75% for 2010 (37.5% thereafter) regardless of when the assets were acquired during the income year

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