• I Did you have any capital allowance deductions (previously known as depreciation on plant)?

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    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    NO

    Leave blank and go to label J

    YES

    Calculate your deductible capital allowances and write the amount in the boxes provided. Do not show cents.

    What you need to know

    You can claim a deduction here for the decline in value of a depreciating asset. The asset must have been used, or installed ready for use, for income-producing purposes during the income year.

    If you have allocated an asset to a low-value pool and have used the asset to produce your rental income, you do not show your deduction for its decline in value as a rental expense on this schedule or on your tax return. (You claim low-value pool deductions at a separate question in TaxPack.)

    You may need to read the publication Guide to depreciating assets to help calculate your capital allowance deductions.

    Last modified: 20 Oct 2015QC 27495