If you choose to stop using the simplified depreciation rules and have depreciating assets in your small business pool, the small business pool remains and you:

• continue to claim a 30% deduction each year until the pool balance falls below the instant asset write-off threshold
• then deduct the remaining pool balance, meaning the pool balance becomes zero.

You can’t:

• add more assets to the pool
• claim the instant asset write-off under the simplified depreciation rules for any new assets you acquire.

Remember to notify the Commissioner of Taxation of your choice to stop using simplified depreciation when you lodge your tax return.