Depreciation and Immediate Deduction

Hello Everyone,

We have a investment property and I do tax returns myself and realised that in the last year's(year ending 30-Jun-2014) tax return I did not claim the immediate deduction for some of the items valued less than $300 in QS depreciation schedule and instead depreciated them using diminishing value method. I did the tax return with the investment property for the first time so lesson learnt.

Now I am wandering, Is it possible to claim immediate deduction on these items on their Opening Adjustable Value for tax year ended 30-Jun-2015?
or
I will have to depreciate them again (or put them in low value pool) because I did not claim the immediate deduction the first time.

Regards,
Gaggi

 

You missed the deduction for accountants fee's as well.

 

I did claim the depreciation on items <$300 but I could have immediately deducted them . so I am seeking some advice whether I can claim the immediate deduction on opening adjustable value of these items for the financial year 2015 Or I will have depreciate them again as I did the first time.

 

You might be able to submit an amendment

 

Go back and amend the return.

 

Amend.