> Each individual can only have in existence a single low value pool at any one point in time which is used to aggregate all eligible assets.
> Eligible assets recognised for inclusion into the low value pool comprise (1) those with purchase values between $300 and $1000 and (2) assets whose initial purchase price may have exceeded $1000 but whose realisable value after depreciation has since fallen below the 1k mark.

And here’s the caveat:

> Once you choose to allocate an eligible asset into a low value pool for tax deduction purposes, you must allocate to the pool ALL other low-cost/low-value assets you hold for that income year AS WELL AS future years.