The current regulation that sets the depreciation claim threshold at $300 for individuals is outdated and no longer reflective of economic realities. This threshold has remained the same for at least two decades: $300 in 2003 is worth roughly $528 in 2024 due to inflation. As individuals, we bear the brunt of this stagnation, limiting our capacity to fully claim depreciation on items worth up to $500. We urgently call on policymakers to adjust the threshold in line with inflation and the evolution of the economy. A raise to a minimum of $500 is trivial yet crucial to ushering our taxation system into the present. Fairness and realism demand this adjustment, allowing us to keep pace with the economy's swings and dynamics. Join us in demanding this essential change for individual taxpayers. Sign this petition today.