Item 1: Project pools

Warning:

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

At U, write the number of project pools you have. A separate project pool is required for each project.

At V, write the total closing value of all your project pools for the previous income year.

At W, write the total closing value of all your project pools for this income year. The closing pool value of a project pool is:

• the closing pool value for the previous year
  plus
• any project amounts allocated for the year
  less
• the deduction for decline in value for the year -worked out assuming the project operates wholly for a taxable purpose.