I am trying to add an asset into the depreciation and capital allowances tool on ATO/MyGov. Under add asset, the field called type, I'm looking for something that would be suitable for an asset in a rental property, all I can see are descriptions of work-related expenses, like car and uniform. This does not look correct, can you tell me which "type" to choose from this list.
Hi @STofts,
The depreciation and capital allowances tool in myGov has different sections for different types of deductions.
It sounds like you may be in the work-related expenses section of the tool rather than the rental property section. When adding assets for a rental property, you first need to ensure you've indicated in your tax return that you have rental income.
To access the correct section:
If you've completed the tool outside of myGov, you'll need to manually enter the calculated amounts into your return.
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