Item 49 - Capital allowances (Partnership Return) 2025
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) 2025 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 |
