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  • Part A - depreciating assets first deducted in the 2006 income year



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

    End of attention

    This part requires information about any depreciating assets, tangible or intangible, whose decline in value you are claiming for the first time this income year - for example, assets that you start to use for a taxable purpose this income year. You can only include assets that:

    • are covered by the uniform capital allowance (UCA) system, and
    • you have used for a taxable purpose.

    A taxable purpose is:

    • the purpose of producing assessable income
    • the purpose of exploration or prospecting
    • the purpose of mining site rehabilitation, or
    • environmental protection activities.

    If you did not complete the items Intangible depreciating assets first deducted or Other depreciating assets first deducted on your tax return or on the Business and professional items schedule for individuals 2006, you do not need to complete this part of the schedule. Go to part B.

    See the Guide to depreciating assets 2006 for information about the UCA and for more information on any of the terms referred to in this part.


    1. Do not include assets you acquired this year for which you are not claiming a deduction for decline in value. You will include those assets in the year you begin to claim deductions for them.
    2. For A, B and C, include the cost of assets for which the UCA provides a specific treatment. For example, include the cost of:
      • low-cost assets that have been allocated to a low-value pool
      • primary production assets, and
      • assets used in exploration or prospecting.
    3. For A and B, do not include capital expenditure you have allocated to a software development pool for the income year.
    4. The cost of an asset may not be the same as its purchase price. The purchase price may be adjusted in certain circumstances - for example, to the car limit (which then becomes the first element of its cost).
    5. The cost shown in part A should include any amounts included in the second element of cost. For more information on cost, see the Guide to depreciating assets 2006.
    Last modified: 13 Mar 2020QC 27794