Item 48 - Capital allowances (Partnership Return)
Don't include an amount here if the partnership is a small-business entity using the simplified depreciation rules. Include those amounts at Item 49 Small business entity simplified depreciation (partnership return) labels A and B.
See item 48: Capital allowances on the ATO website.
Worksheets available at these labels
* Labels A, B, G, H and I have access to the Tax worksheet Intangible/Tangible depreciating assets worksheet (it).
** Labels J and K have access to the Tax reconciliation worksheet (Schedule A). If you've used Schedule (A) to reconcile business income, we'll fill in labels J and K. See Schedule A Reconciliation.
Set your assets up as a group for each method:
- Dimishing value
- Prime cost
- Assets used for primary production purposes
Then click the Integration tab and select which label to pre-fill with the calculated amount.