• Do you need to complete a Capital allowances schedule 2002?

    Unless you are an STS taxpayer or an individual taxpayer not carrying on a business, you need to complete a Capital allowances schedule 2002 if you had:

    more than $1,000 at any of the following labels on your income tax return:

    Label

    Where label found

    Depreciation expenses

    All tax returns except fund tax return

    Deduction for decline in value of depreciating assets

    Company and fund tax returns only

    Deduction for project pool

    All tax returns except fund tax return

    Business deduction for project pool

    Business and professional items section of tax return for individuals

    Low-value pool deduction

    Tax return for individuals only

    or

    more than $5,000 at either of the following labels on your income tax return:

    Label

    Where label found

    Intangible depreciating assets first deducted

    All tax returns

    Other depreciating assets first deducted

    All tax returns

    What you may need

    Attention

    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

    You may need:

    To get these publications:

    • visit the ATO website at www.ato.gov.au
    • ring our Publications Distribution Service at 1300 720 092
    • visit an ATOaccess site.

    Taxpayer information

    In the spaces provided at the top of the schedule, include the entity's:

    • tax file number
    • name
    • Australian business number, if any
    • signature as prescribed in the tax return.
    Last modified: 21 Oct 2002QC 27435