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) 2024 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) 2023.
|
Label |
Description |
|---|---|
|
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 2023.
|
Label |
Description |
|---|---|
|
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 |