48 Termination value of intangible depreciating assets
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End of attention
If the trust is a small business entity using the simplified depreciation rules, do not include an amount at this entry.
For more information on intangible depreciating assets, see item 46 Intangible depreciating assets first deducted.
Show at O the termination value of each balancing adjustment event occurring for intangible depreciating assets to which the UCA rules applied, including assets allocated to a low-value pool.
Do not show at O any consideration received during the income year for in-house software for which the trust has allocated expenditure to a software-development pool.
A balancing adjustment event occurs if the trust stops holding or using a depreciating asset or decides not to use it in the future, for example, assets sold, lost or destroyed. Generally, the termination value is the amount the trust receives or is deemed to receive in relation to the balancing adjustment event. It includes the market value of any non-cash benefits such as goods and services the trust receives for the asset.
For more information on balancing adjustment events, termination value, in-house software and software development pools, see the Guide to depreciating assets 2012.
Last modified: 12 Feb 2019QC 28037