Low value pooled assets

Australia only

For a low value pool, you can:

• add depreciating assets with a cost or opening adjustable value of less than $20,000. These can be assets purchased during the current year or assets that have been previously depreciated.

• add certain depreciating assets of primary producers, other landholders and rural land irrigation water providers used in landcare operations.
• only include one low-value pool. Once you choose to allocate a low-cost asset to a low value pool, you must allocate to the pool all other low cost assets you hold in that year and in future years.

• The following assets cannot be allocate to a low-value pool:

  • Assets for which you previously calculated depreciation deductions using the prime cost method.

  • Horticultural plants, including grapevines.

  • Assets for which you can claim deductions under the simpler depreciation rules.

  • Certain assets you use to conduct research and development activities.

  • Portable electronic devices.

See the ATO for more information.