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Small business entity depreciating assets worksheet (sda)

The instant asset write-off has been increased and extended to allow small businesses to claim an immediate deduction for assets they first start to use or have installed ready for use for a business purpose:

  • from 7.30pm (AEDT) on 2 April 2019 until 30 June 2020, if they cost less than $30,000 each.
  • from 29 January 2019 and before 7.30pm (AEDT) 2 April 2019, if they cost less than $25,000 each.
  • before 29 January 2019, if they cost less than $20,000 each.

The balance of the general small business pool is also immediately deducted in the 2019 income year if the balance at the end of the income year (before applying the depreciation deductions) is less than $30,000 .

The 'lock out' laws have also been suspended for the simplified depreciation rules (these prevent small business from re-entering the simplified depreciation regime for five years if the they have opted out) until the end of 30 June 2020.

If the company is an eligible small business entity and has chosen to use the simplified depreciation rules, write at X Depreciation expenses the total depreciation deductions being claimed under the simplified depreciation rules and the uniform capital allowances (UCA) rules.

If you are a small business entity and have total depreciation deductions at label X Depreciation expenses, you must also complete item 10 Small business entity simplified depreciation.

Some depreciating assets are excluded from these simplified depreciation rules but a deduction may be available under the UCA or the R&D depreciating asset regime.

An eligible company choosing to use these simplified depreciation rules must use both the immediate write-off and the pooling method where applicable. It cannot choose to use one and not the other.

For more information about the small business entity depreciation rules, see Simplified depreciation rules or phone 13 28 66. 

Use the Depreciation worksheet (d) to manage your depreciating assets or claim the instant asset write-off. See Completing the Depreciation Worksheet

Amounts calculated in the d worksheet are passed to the this worksheet and when you close either of them, we'll pass the totals calculated to labels A or B as required.

A free data entry row is provided for so that where you don't use the d worksheet, you can enter details directly into the sda worksheet.

The sda worksheet is provided to labels A:Deduction for certain assets and B: Deduction for general small business pool at item:

  • 10 - Company return
  • P10 - Individual return
  • 48 - Partnership return
  • 49 - Trust return


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