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 items residual value for that year. If you scrap a particular item (e.g. replace a cook-top) 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.
Thrifty tax is an Australian owned quantity surveying company which specialises in tax depreciation. Our vision is to provide high-returning, ato compliant tax depreciation schedules for property investors at affordable prices.