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Depreciation Calculator

Calculate depreciation values using different methods with an interactive schedule.

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Form

Result

Total Depreciation: —
End Book Value: —

Book value should equal salvage at the end (within rounding).

Schedule (Yearly)

Year Depreciation Accumulated Book Value Note

Asset Depreciation Guide (Australia)

Understanding Depreciation

The QuickCalculatIt Depreciation Calculator helps you estimate how your assets lose value over time. Whether you’re managing business assets, vehicles, machinery, or equipment, this tool lets you calculate depreciation using methods approved by the Australian Tax Office (ATO) — such as the straight-line and diminishing (declining) balance methods.

Understanding your asset’s book value and annual depreciation is crucial for tax reporting, accounting accuracy, and financial planning. Our calculator provides instant, reliable, and easy-to-read results for smarter decision-making.

Common Depreciation Methods
  • Straight-Line Method: Spreads the asset’s cost evenly over its useful life.
  • Declining Balance Method: Calculates higher depreciation in earlier years, suitable for assets that lose value faster.
  • Units of Production Method: Best for machinery or vehicles that wear based on usage (e.g., hours used, units produced).

Example: A car worth $40,000 with a 5-year life using straight-line depreciation = $8,000 per year.

Why Depreciation Matters for Tax and Accounting

In Australia, depreciation allows businesses and individuals to claim deductions on wear and tear of assets. Accurate calculations help optimise your tax deductions, improve financial statements, and plan better for future asset replacements.

Tip: Use this calculator to create a full depreciation schedule for your tax return and accounting reports.
When to Use the Depreciation Calculator
  • For tax planning and accounting in Australia.
  • When valuing fixed assets like equipment, furniture, or vehicles.
  • To estimate book value and residual value over time.
  • For preparing financial statements or asset reports.
  • Ideal for business owners, accountants, and investors.

Depreciation – History