If you choose to use the simplified depreciation rules, you must:

• use them to work out deductions for all your depreciating assets except those specifically excluded
• apply the entire set of rules, not just individual elements (such as the instant asset write-off)
• only claim a deduction for the portion of the asset used for business or other taxable purposes and not for the portion for private use.

A small number of assets are excluded from the simplified depreciation rules, and a car limit applies to the cost of passenger vehicles. These are discussed in exclusions and other considerations.