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 |
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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 |