If you decide to move to reporting as a Small Business Entity for tax purposes and have assets in regualr Prime Cost or Diminishing Value depreciation methods, then you can move assets to a General Pool. Note that from 1 July 2020, General Pool balances are completely depreciated.
Moving an Asset from Plant & Equipment to the General Pool
Modified on: Tue, 28 Jun, 2022 at 12:34 PM
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