Asset Integration

Integration of the depreciation expense to labels in the main return or to other worksheets and schedules in Tax is offered at this dialog for non-pooled assets. Pool value Integration is a separate function performed in the Pool Properties dialog under the Integration tab.

An Integration point may be chosen in the Properties of the asset at any time or by selecting the Batch update button and then the Integration button and selecting one or more assets to be integrated to the same worksheet, schedule or label.

The following is an explanation of the fields and how to use them:

To form/schedule

Depreciation may be integrated (or linked) to any of the following labels, worksheets and schedules.

Schedule Code	Worksheet/ATO Schedule for integration of the depreciation deduction amount	Multiple schedule	Return Type
d	Deduction for decline in value of depreciating assets, item 7 label F		C
dip	Distributions received from Partnerships worksheet (dip)		I, C, P, T
dit	Distributions received from Trusts worksheet (dit)		I, C, P, T
ren	Rental Schedule (ATO B)	Y	I, C, F, MS
ref	Foreign rental schedule	Y	I
a	Schedule A Reconciliation items		I, P, T
b	Schedule B Non-PP Business Income	Y	I, P, T
c	Schedule C PP Income	Y	I, P, T
I - WRE deductions	Work-related travel (D2) Other work related expenses (D5) Cost of managing tax affairs (D10)		I
w	Work-related Expenses schedule (ATO W) opened from Preparation > Schedule, then Depreciation fields in the worksheet.	Y	I
mve	MVE worksheet at item D1, Depreciation and Deductible balancing adjustment fields in the worksheet.	Y	I
sed	Work-related self-education expenses at item D4, Depreciation field in the worksheet		I
idd	Interest Deductions (idd)		I
ddd	Dividend Deductions		I
oti	Other income, item 10 label S		F
oti	Other income, item 11 label S		MS
otd	Other deductions, item 11 label L		F
otd	Other deductions, item 12, labels L1 and L2		MS
d	Deduction for decline in value of depreciating assets, item 11 label E		F
d	Deduction for decline in value of depreciating assets, item 12 labels E1 and E2		MS
rep	Rental schedule (ATO BR)		P, T
dai	Deductions relating to Australian investment income, item 16		P, T
P	Other Deductions, item 18 Amounts from depreciation worksheet		P
T	Other Deductions, item 18 Amounts from depreciation worksheet		T

Once you choose the schedule or worksheet to integrate to and, depending on which schedule you select, further information is required at the next three fields. For example:

If you select to integrate to the Reconciliation worksheet, Tax needs to know whether the deduction is for Primary Production or Non-Primary Production income and will prompt you to select this at the schedule item field.
If you are integrating the asset to a Rental schedule and Tax detects that there is more than one Rental schedule for the taxpayer, you will be prompted to identify the Rental Property that the asset belongs to at the schedule number field.
If you are integrating to the ATO work-related expenses schedule (W), you will need to tell Tax which item in the schedule and which entry at the item, so both the dchedule item and the entry number fields are required to be completed.

Schedule number

This field defaults to 1. If there is more than one of a particular schedule, say Rental, you will need to select the right rental schedule from the list where the property will be identified by the first line of address. If you have entered the assets prior to creating the Rental schedule, Tax will create a blank Rental schedule to attach this depreciation amount to. Those worksheets and schedules for which multiples are allowed are marked (Y) in the table above.

Schedule item

This field is only active for these schedules:

Individual return Work-related expenses items D2, D5 and gifts D10 grids
Reconciliation worksheet (a) where Tax needs to know the type of income (PP or Non-PP); or
Distributions received from Partnerships worksheet (dip) and Distributions received from Trusts worksheet (dit) where tax needs to know the type of income (PP or Non-PP – the default is Non-PP)
for Schedule W (ATO work expenses) Tax needs to know which item number in the Schedule W and which entry in that item.

Entry number

This field relates solely to the schedule W, which is made up of multiple items and allows multiple entries within those items. For example, if you have completed item D5 Other work-related deductions and you have 10 entries, this field determines which entry will receive the depreciation deduction amount.

Any depreciation calculated for an asset where an integration point has not been chosen will not be included at any label in any of the main forms.