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  • Completing the capital allowances schedule 2012

    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

    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).

      Last modified: 04 Mar 2016QC 25629