60 Small business entity depreciating assets



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Only complete this item if the trust 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 low-cost assets (less than $1,000) - show at A the total amount claimed relating to low-cost assets
  • deduction for general pool assets (less than 25 years) - show at B the total amount claimed relating to the general small business pool
  • deduction for long-life pool assets (25 years or more) - show at C the total amount claimed relating to the long-life small business pool.

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

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Last modified: 13 Aug 2014QC 22968