ATO_PC ^v2.6.159

Calculates depreciation for an asset using the Australian Tax Office (ATO) Prime Cost method.

ATO_PC(cost, effective_life, days_held, days_in_year)

Parameters

• cost - The cost of the asset (excluding GST if you're entitled to claim it).
• effective_life - The effective life of the asset in years.
• days_held - The number of days the asset was held during the income year.
• days_in_year - The number of days in the income year, typically 365 or 366.

Examples

ATO_PC(80000, 5, 365, 365)

Result: 16000.0

Note: Calculates depreciation using the Prime Cost method: $80,000 × (365 / 365) × (1 / 5) = $16,000.

ATO_PC(80000, 5, 182, 365)

Result: 7978.0821

Note: Calculates half-year depreciation for an asset held 182 days out of 365 using the Prime Cost method.