Be sure to check the Depreciation configuration first. Learn more
Steps to create General Pool for Business
Group Asset set-up:
We've built LodgeiT General Pool depreciation module that follows the rules set by the ATO. According to ATO rules, the write-off threshold for period 12 March 2020 to 31 December 2020 is $150000 (ie $150K will auto write off by the system)
Another option is to do accounting - based depreciation for the financial statements and tax -based depreciation for the tax return. Alternatively, move the assets out of the pool and don't use SBE rules.