Down to what level do I have to depreciate purchases for an Air BnB?

I just bought $67 worth of replacement linen for our AirBnB. I just wondered whether this has to be added to our depreciation schedule, or whether I can just expense it.

It seems a tiny amount to add to the schedule.

 

It all comes down to expected lifespan of each item in the ATOs eyes. Each item is then deducted / depreciated over that duration.

There is a list of all the itens here : ATO Tax Depreciation Rate Table 2015 & 2016 | MCG Quantity Surveyors

 

I would have thought you could expense it in the first year if it is under $300.

 

The expected lifespan of a sheet in a busy AirBnB is about 8 weeks!!!!

 

Assets under $300 get written-off immediately in a Dep Schedule. Expensing this item achieves the same effect.

As an aside, the sheets I have in my Airbnb have lasted three years - and counting. The brand was Home Republic and they were a bamboo and cotton mix. I don't think they are available anymore - probably because they last too long.
I have someone doing a shoot in my place this week for a range of sheets and towels they are selling on-line. They offered me a contra which I was thinking about until I saw how much they charge for sheets.
Scott

 

Thanks Scott, so as Depreciator created my schedule, I don't need you to add anything under $300, I just expense it - and the ATO will be OK with this?

 

We can add it. That's easy and we don't charge for that sort of stuff. But your accountant will likely just expense it - especially stuff like lined. That's what my accountant does.

 

Thanks Scott. I do my own accounts so I'll expense anything under $300. Appreciate it.

 

Items under $300 may be expensed and bypass depreciatiation rules. Even some costs over $300 may be expensed eg repairs. The linen may be incapable of claiming too if the Airbnb was a single night. The broader picture needs to be considered. Private use may always be adjusted even under $300... So sheets $67 used 50% for tenants and 50% for family who come and go would mean only 50% is deductible

I question if you are unsure about this what else has been missed ?

 

The AirBnB is 100% available to tenants and is never used by non-paying guests. Our minimum stay is 1 week. All expenses are 100% accounted for except depreciation on the property which is at a % rate of floor area. So my question was merely about depreciation vs expensing.

Thanks for all your replied everyone.