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  • Completing the Capital allowances schedule 2002

    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

    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.

    Last modified: 11 Dec 2019QC 27399