Value of other depreciating assets
STS taxpayers - do not complete this item.
Did you stop holding or using any other depreciating assets?
No |
Go to item P19 Trading stock election. |
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Yes |
Read on. |
You need to know
At item P18 you include the termination values for other depreciating assets - including assets allocated to a low-value pool - that you stopped holding or using during the year (for example, assets sold, lost or destroyed).
Generally, the termination value is the amount you receive or are deemed to receive in relation to the asset that you stopped holding or using. It includes the market value of any non-cash benefits such as goods and services you receive for the asset.
For more information on termination value, see the Guide to depreciating assets 2004–05.
Completing this question
Step 1 |
Add up the amounts you received or are deemed to have received for all depreciating assets that you stopped holding or using in your business other than:
STS pool in a prior year
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Step 2 |
Write this amount at K item P18 on page 4 of your schedule. Do not show cents. |