Hi Teacher, from your video the heater effective life is 7yrs, why the depreciation table list from 2021-2040? can we claim more depreciation instead of 20yrs?
Hi there. Yes heaters have 7 year life and not 20. Not sure where you are getting 20years. If you use the ATO tool you can search for the correct effective life of the asset you are looking for.
Hi Dan, I am running a small eBay business as a sole trader turnover of less than 70k, I bought a new SUV, and I would like to do Temporary full expensing, I am not sure where can I process full value depreciation. According to your video, I can do this under the low-value pool or small business pool, but I can see many places to fill under the section of "Business income or losses", I am very confused because I fill most of my selling and expense information (such as sales, COGS, expense) under "Business income or losses", but seems I should do the car depreciation in the low-value pool or small business pool, can you please tell me what I can do. Really appreciate
Hi mate. That’s a big question and I recommend that you speak to a tax agent given the dollar value in question. I would hate for you to enter it incorrectly. Cheers
Hi Teacher, from your video the heater effective life is 7yrs, why the depreciation table list from 2021-2040? can we claim more depreciation instead of 20yrs?
Hi there. Yes heaters have 7 year life and not 20. Not sure where you are getting 20years. If you use the ATO tool you can search for the correct effective life of the asset you are looking for.
What if you already have a depreciation schedule, more so for an investment property. Is there a way to add this?
Sorry it appears you have to enter it in manually
How to do owner occupied in myGov tax
Sorry not sure what you mean
Hi Dan, I am running a small eBay business as a sole trader turnover of less than 70k, I bought a new SUV, and I would like to do Temporary full expensing, I am not sure where can I process full value depreciation. According to your video, I can do this under the low-value pool or small business pool, but I can see many places to fill under the section of "Business income or losses", I am very confused because I fill most of my selling and expense information (such as sales, COGS, expense) under "Business income or losses", but seems I should do the car depreciation in the low-value pool or small business pool, can you please tell me what I can do. Really appreciate
Hi mate. That’s a big question and I recommend that you speak to a tax agent given the dollar value in question. I would hate for you to enter it incorrectly. Cheers