motor vehicle depreciation cost limit 2023

In Australia, the ATO “car limit” caps how much of a passenger vehicle’s cost you can depreciate or claim under instant asset write‑off or temporary full expensing.

For 2022–23 the limit is AUD $64,741; for 2023–24 it’s AUD $68,108 (GST-inclusive, with input tax credits limited accordingly). It applies to “cars” designed to carry less than 1 tonne and fewer than 9 occupants; heavier utes and vans generally sit outside the cap. Anything above the limit simply isn’t depreciable—no matter how sparkly the paint or persuasive the salesperson. Consult official documentation for exact figures.