Skip to main content
Skip table of contents

Item 48 - Capital allowances

If the trust is a small business entity using the simplified depreciation rules, do not include an amount at this label. Include such amounts at Item 49 - Small business entity simplified depreciation labels A and B.

Refer to Capital allowances from the ATO website.

Depreciating assets first deducted in this income year labels A, B and C


Label A

Intangible depreciating assets first deducted

Label B

Other depreciating assets first deducted

Label C

Have you self-assessed the effective life of any of these assets?

All depreciating assets - Labels D, E, F, G, H, I, J, K and L



Label D

Did you recalculate the effective life for any of your assets this income year?

Label E

Total adjustable values at end of income year

Label F

Assessable balancing adjustments on the disposal of intangible depreciating assets

Label G

Deductible balancing adjustments on the disposal of intangible depreciating assets

Label H

Termination value of intangible depreciating assets

Label I

Termination value of other depreciating assets

Label J

Deduction for project pool

Label K

Section 40-480 deduction


The amount at label A Intangible depreciating assets first deducted must reflect an amount that has been calculated for tax purposes.

Use the Depreciation worksheet (d) to manage all the trust’s depreciating assets and integration of the correct values to the trust return. Refer to Depreciation worksheet (d).

Labels A, B, G, H and I provide the Tax worksheet Intangible/Tangible depreciating assets worksheet (it).

Labels J and K provide the Tax worksheet Schedule A Reconciliation.

Label L provides the Tax worksheet Landcare and water facility tax offset (lcr).

CCH References

16-156 Write-off for “blackhole” business capital expenditure

17-015 Depreciating assets

17-040 Plant subject to capital allowances

17-080 Cost as initial basis for calculating decline in value

17-270 Effective life of asset

17-280 Statutory effective life

17-480 Choice of method to calculate decline in value

17-640 Termination value of depreciating assets

18-080 Water facilities

18-100 Landcare operations

19-050 Deduction for pooled project expenditure

JavaScript errors detected

Please note, these errors can depend on your browser setup.

If this problem persists, please contact our support.