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 $1000 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 a 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 $5000 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 |
You should use Worksheet 1-depreciating assetsThis link will download a file and Worksheet 2-low-value poolThis link will download a file to help you complete your income tax return and the schedule.
For more information about the Capital allowances schedule 2002, see the Capital allowances schedule instructions. To find out how to get these publications, see the inside front cover.