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48 Small business entity simplified depreciation

Last updated 11 February 2019

Only complete this item if the partnership is a small business entity using the simplified depreciation rules.

To complete this item, use the amounts calculated for small business entity depreciation deductions at K item 5:

  • deduction for certain assets (costing less than $6,500) – show at A the total amount claimed relating to these assets
  • deduction for small business general pool assets – show at B the total amount claimed relating to the general small business pool

Only put the depreciation deduction in the two small business entity depreciating asset labels, and not the pool balance.