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Completing the Capital allowances schedule 2010

Last updated 25 September 2011


Individual taxpayers

You do not need to complete a Capital allowances schedule 2010 (NAT 3424). The requirement to complete a schedule has been removed for individual tax returns from 2010 onwards.

End of attention

Unless you are a small business entity using the simplified depreciation rules or an individual taxpayer you need to complete a Capital allowances schedule 2010 (NAT 3424) if you had more than $100,000 at any of the following labels on your tax return:


Where label found

Depreciation expenses (see note below)

Company, partnership and trust tax returns only

Deduction for decline in value of depreciating assets

Company, fund and self-managed superannuation fund returns only



You do not include information in the Capital allowances schedule 2010 about depreciating assets that are subject to the simplified depreciation rules - for more information see Guide to concessions for small business entities.

If the claim for a deduction relates to both existing small business items and UCA items, only complete the schedule for UCA items.

End of attention

You should use worksheet 1: Depreciating assets and worksheet 2: Low-value pool to help you complete your income tax return and the schedule.

Further Information

For more information about the Capital allowances schedule 2010, see the Capital allowances schedule instructions 2010 (NAT 4089).

End of further information