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Notes Online Home 2024 Tax Schools Day 2 Year-End Planning Strategies For Business Taxpayers In 2024
Advanced Tax Planning With Depreciation Claims For SBEs
This segment explores advanced tax planning with depreciation claims for SBEs, covering the instant asset write-off for depreciating assets, second element costs, and closing pool balances, more specifically:
- Claiming the instant asset write-off for depreciating assets in the 2024 income year
- Claiming the instant asset write-off for second element costs (e.g., improvements) in the 2024 income year
- Claiming a write-off for the closing pool balance in the 2024 income year
- Issues to consider when ‘opting out’ of the simplified depreciation concessions
- Case study demonstrates the tax savings that can be achieved from maximising depreciation claims