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IQ Graduate | Working with depreciation

Graduate IQ-7. Working with depreciation for business and non-business taxpayers.

The depreciation rules are essential to understand to achieve the best possible result for the client. But they can be confusing. This essential IQ course walks through the rules and how they apply to business and non-business taxpayers, and some of the issues that arise in practice.

While not technically not depreciation, we also look at capital works.

This module is available as part of the Accounting Graduate IQ Program.

2.25 CPD Hours (Tax) including Q&As

Accreditation 022406
Total 2.25 CPD Hours

What we cover

How long do I have to complete the course

Introduction to depreciation
- What assets are depreciating
- Who is entitled to claim depreciation deductions
- When assets start to depreciate
- Different rules for different taxpayers
Depreciation for non-business taxpayers
- Which rules apply
- Instant asset write off
- Low value pooling
- Calculating depreciation over an asset’s effective life
- When to use
- Special depreciation rules for residential landlords
- Depreciation versus capital works
Depreciation for business taxpayers
- Different rules for different taxpayers
- Does the instant asset write-off apply?
- Simplified depreciation rules for small business entities
- When an immediate deduction is not available
- Pooling
- Using simplified depreciation and what's excluded
- Accelerated depreciation rules
Capital works deductions

Each course will remain accessible to you (the registered person) until you access it for the first time. Once accessed (when you click on ‘go to course’) you have 3 months to complete it.

Karen Vella

Tax Training Team Leader, TaxBanter

Karen has over 25 years experience in the tax profession, first as a practitioner and more recently as an educator. She trained with the Big Four and initiated her own successful small practice before moving to Hayes Knight as a Partner.

Prior to joining TaxBanter, she spent many years as a trainer and technical writer for Webb Martin Training, and then most recently TaxBytes. She is also a regular presenter and consultant for Knowledge Shop.

Karen loves to talk tax. She has provided tax training to clients ranging from the Australian Taxation Office to accounting firms, both large and small. Her specialty is translating complex content into something meaningful, engaging and practical for her clients, no matter their level of experience.