If the trust is a small business entity using the simplified depreciation rules, do not include an amount at this label. Include such amounts at Item 51 - Small business entity simplified depreciation labels A and B.
Include here the cost of assets purchased for less than $30,000 each from 7.30 pm (AEDT) 2 April 2019 to 30 June 2019 for businesses with a turnover from $10 million and less than $50 million.
Intangible depreciating assets first deducted
Other depreciating assets first deducted
Temporary full expensing labels
Complete this label if you want to opt out of the temporary full expensing incentive.
A - Some eligible assets = Opt out of some eligible assets
B - All eligible assets = Opt out of all eligible assets.
See opt out on the ATO's website.
Enter the number of assets you want to opt out of temporary full expensing
the value of the assets you want to opt out of temporary full expensing
Enter the value of the deduction you want to claim.
See eligible assets on the ATO's website.
Enter the number of assets you're claiming the temporary full expensing for.
Backing business investment - accelerated depreciation labels
Select the option if you are opting out of all or some of the assets.
Enter the number of assets you want to opt out.
Enter the value of the assets you're opting out of.
For all depreciating assets
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.
Did you recalculate the effective life for any of your assets this income year?
Total adjustable values at end of income year
Assessable balancing adjustments on the disposal of intangible depreciating assets
Deductible balancing adjustments on the disposal of intangible depreciating assets
Termination value of intangible depreciating assets
Termination value of other depreciating assets
Deduction for project pool
Section 40-480 deduction