Do you need to complete the schedule?
Use the table below to work out whether or not you need to complete a Capital allowances schedule 2012.
If you are… |
Do you need to complete a schedule? |
|---|---|
An individual |
no |
A small business entity using the simplified depreciation rules |
no |
A company, partnership or trust showing more than $100,000 at Depreciation expenses on your tax return |
yes |
A company, fund or self-managed superannuation fund showing more than $100,000 at Deduction for decline in value of depreciating assets on your tax return |
yes |
What is included in the schedule?
You do not include information in the Capital allowances schedule 2012 about depreciating assets that are subject to the simplified depreciation rules; for more information see Small business entity concessions.
If the claim for a deduction relates to both existing small business items and UCA items, only complete the schedule for the UCA items.
You should use Worksheet 1: Depreciating assets and Worksheet 2: Low-value pool to help you complete your income tax return and the schedule.
For more information about the Capital allowances schedule 2012, see the Capital allowances schedule instructions 2012 (NAT 4089).