Item 50 - 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 51 - Small business entity simplified depreciation labels A and B.

Depreciating assets first deducted in this income year (Labels A & B)

Include here the cost of assets purchased for less than $30,000 each from 7.30 pm (AEDT) 2 April 2019 to 30 June 2019 for businesses with a turnover from $10 million and less than $50 million.

Label	Description
Label A	Intangible depreciating assets first deducted
Label B	Other depreciating assets first deducted

Temporary full expensing labels

Label P - Are you making a choice to opt out of temporary full expensing for some or all of your eligible assets?

Complete this label if you want to opt out of the temporary full expensing incentive.

A - Some eligible assets = Opt out of some eligible assets
B - All eligible assets = Opt out of all eligible assets.

See opt out on the ATO's website.

Label Q - Number of assets you are opting out for

Enter the number of assets you want to opt out of temporary full expensing

Label R - Value of assets you are opting out for

the value of the assets you want to opt out of temporary full expensing

Label S - Temporary full expensing deductions

Enter the value of the deduction you want to claim.

See eligible assets on the ATO's website.

Label T - Number of assets you are claiming for

Enter the number of assets you're claiming the temporary full expensing for.

Backing business investment - accelerated depreciation labels

Label V - Are you making a choice to opt out of Backing business investment for some or all of your eligible assets?

Select the option if you are opting out of all or some of the assets.

Label W - Number of assets you are opting out for?

Enter the number of assets you want to opt out.

Label X - Value of assets you are opting out for?

Enter the value of the assets you're opting out of.

Label M - First year accelerated depreciation deductions for assets using Backing business investment

Label O - Instant asset write-off deductions for non-small business entities

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

For all depreciating assets

Labels D, E, F, G, H, I, J, K and L

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)Landcare and water facility tax offset (lcr).

Label	Description
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