Item 49 - 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 50 Small business entity simplified depreciation (partnership return) labels A and B.
Labels A, B and C: Depreciating assets first deducted in this income year
Labels A, B, G, H and I have access to the Tax worksheet Intangible/Tangible depreciating assets worksheet (it).
Label | Description |
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A* | Intangible depreciating assets first deducted The amount at label A Intangible depreciating assets first deducted must reflect an amount that has been calculated for tax purposes. |
B* | Other depreciating assets first deducted |
C | Have you self-assessed the effective life of any of these assets? |
Labels D to K: For all depreciating assets
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.
Label | Description |
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D | Did you recalculate the effective life for any of your assets this income year? |
E | Total adjustable values at end of income year |
F* | Assessable balancing adjustments on the disposal of intangible depreciating assets |
G* | Deductible balancing adjustments on the disposal of intangible depreciating assets |
H* | Termination value of intangible depreciating assets |
I* | Termination value of other depreciating assets |
J** | Deduction for project pool |
K** | Section 40-480 deduction |