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End of attention
If the trust is a small business entity using the simplified depreciation rules, do not include an amount at this label.
Show at W the termination value of each balancing adjustment event occurring for depreciating assets, including assets allocated to a low-value pool.
Do not show at W any consideration received during the income year for:
- depreciating assets allocated in a prior year to a general small business pool or long-life small business pool
- intangible depreciating assets
- buildings or structures for which a deduction is available under the capital works provisions
- assets used in research and development activities, or
- assets falling within the provisions relating to investments in Australian films.
A balancing adjustment event occurs if the trust stops holding or using a depreciating asset or decides not to use it in the future, for example, assets sold, lost or destroyed. Generally, the termination value is the amount the trust receives or is deemed to receive in relation to the balancing adjustment event. It includes the market value of any non-cash benefits such as goods and services the trust receives for the asset.
Last modified: 13 Aug 2014QC 22968