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Capital allowances schedule

Last updated 11 February 2019

You do not need to complete a Capital allowances schedule 2012 if the trust is a small business entity using the simplified depreciation rules.

In other cases, complete and attach a Capital allowances schedule 2012 if the trust has included an amount greater than $100,000 for depreciation expenses at K item 5.

Assets subject to the simplified depreciation rules

If you are no longer using the simplified depreciation rules this year, but still claiming a deduction in respect of assets subject to these rules at K item 5 (that is, assets in a continuing small business pool) you do not need to complete the schedule if the amount at the entry relates entirely to that pool. If the amount relates to both pool items and uniform capital allowance (UCA) items and exceeds $100,000, you will need to complete the schedule.

For more information, see Capital allowances schedule instructions 2012.

Worksheets 1 and 2 in the Guide to depreciating assets 2012 will help you to complete the Capital allowances schedule 2012. Labels G, H, I, J and K on worksheet 1 and labels L, M, N, O, P and Q on worksheet 2 correspond to labels on the capital allowances schedule.