Frequently Asked Questions

What is a capital loss schedule?

The capital loss schedule includes all the items in your property that are no longer eligible to be claimed for depreciation. They can, however, be claimed as a capital loss if you scrap them. If your report includes a capital loss schedule, those items are still depreciating, so each column represents an item’s residual value for that year. If you scrap a particular item (e.g. replace a cooktop) with a brand-new item, the residual value of the original item in that year can be claimed in full as a capital loss. This may be used to offset a capital gain. However, it is best to contact your tax agent for advice on how to treat capital losses.

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