Capital allowances schedule

  • Assets brought into a consolidated group by a joining subsidiary that are given a new start date for decline in value deductions for the head company purely because of consolidation are not reported at Part A (or at labels Z and A of the company income tax return).
  • The head company is required to choose an effective life for depreciating assets brought into the group under the cost setting process. If the chosen effective life is the same as before the joining time, answer No to question 3 box R and leave blank question 3 box S. If the effective life changes, answer Yes in box R and complete question 3 box S and/or T. The amount recorded in box S and T will be the adjustable value of the depreciating asset just before the joining time.
    Last modified: 20 Oct 2010QC 17844