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Company tax return Capital allowance

Newbie

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hi 

in Q9 of the company tax return relating to Capital allowances, do we have to exclude anything related to capital work expenditure from  our tax depreciation schedule?

 

thanks

 

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Former Community Support

Replies 2

Hi @Cafucati999,

 

Please refer to the information on Q9. Capital allowances on our website. Under section I - termination value of other depreciating asset it says do not include any termination value for capital works.

 

Hope this helps,

 

JacquelineATO

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Most helpful response

Former Community Support

Replies 2

Hi @Cafucati999,

 

Please refer to the information on Q9. Capital allowances on our website. Under section I - termination value of other depreciating asset it says do not include any termination value for capital works.

 

Hope this helps,

 

JacquelineATO

Newbie

Replies 1

hi Jacqueline

 

yes, i saw that. but it did not mention about the depreciating asset 1st deducted and total adjustable value at end of year.

does it mean it apply to the whole question 9 that we should exclude anything that related to capital works?

 

thanks

Community Support

Replies 0

Hi @Cafucati999

 

I am trying to understand the confusion here. This may help in reviewing the instructions for lodgement  remember Capital allowance measures contain the rules for calculating the decline in value of depreciating assets. ...  however Trading stock, capital works, in-house software and certain items of intellectual property are specifically excluded from the definition of a depreciating asset. So complete the question with that in mind.