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How can I account for a lost laptop?

Posted 20 February 2013

I've just started up as a sole proprietor and would normally depreciate laptops etc over 3 years. However, this year I lost a laptop that was not insured, and had to replace it. Can I write off the full cost of the lost laptop in this year? If so, would this still fall under depreciation?

TaxTim Marc TaxTim Marc said:
20 February 2013 at 15:37

If you replaced the laptop at some point during the year then you could depreciate the old one up until you lost it and then the new one from the day you bought it at the new value over 3 years.

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