Immediate Claim - Instant Asset Write-Off (IAWO)
Modified on: Sat, 17 Jul, 2021 at 12:06 PM
AssetAccountant™ fully supports the ATO and IRD's provisions for instant asset write-off for tax depreciation.
For an asset you want to immediately claim in AssetAccountant™, simply select the IMMEDIATE depreciation method from the drop-down options.
ATO guidelines: https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/
IRD guidelines: https://www.ird.govt.nz/covid-19/business-and-organisations/specific-income-tax-issues/depreciation-and-low-value-assets
NOTE: If you are taking advantage of our bulk uploading of assets functionality, simply nominate the depreciation method in the CSV as IMMEDIATE.
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