Car depreciation limit

Taxation Determination TD 2013/15 states that the car limit for the 2013–2014 financial year is $57,466. The car limit is used to work out decline in value deductions of certain cars under the income tax law.

The ATO says the index for the year ended 31 March 2012 was 401.5 and the index for the year ended 31 March 2013 was 395.1, resulting in an indexation factor of 0.984. As the indexation factor is less than 1, the car limit for the current year has not been indexed and remains the same as the previous year.

Source: Taxation Determination TD 2013/15, http://law.ato.gov.au/pdf/pbr/td2013-015.pdf.