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
You may need:
- The relevant income tax return instructions or the publication Business and professional items (NAT 2543-6.2002)
- 2002 business and professional items schedule (NAT 2816-6.2002)
- Guide to depreciating assets (NAT 1996-6.2002)
- Taxation Ruling IT 2685-Income tax: depreciation
- Taxation Ruling TR 2000/18-Income tax: depreciation effective life.
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.