Make sure to set up the correct "Category" and "Type" of Depreciation -
The car cost depreciation limit is the maximum value that can be assigned to a vehicle for the purpose of a depreciation claim.
Click HERE for ATO Threshold
Car cost limit information HERE
Illustration: The car limit for 2023-24 is $68,108. This means that the upper limit on the cost you use to calculate depreciation for the business use is $$68,108. if the car was purchased in the 2023-24 year .
Example:
You have to exclude GST from the purchase price first and then compare it with the cost limit. GST is not being excluded from the limit itself.
Note: If need to depreciate to 100%, use immediate write off
Here is another example from the ato community support, click HERE to view
ATO links:
Car cost limit - HERE