LOW VALUE POOL WORKSHEET 2007 Basic Chapter 8 Q6b
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1 LOW VALUE ASSET (acquired before current financial year, and OAV < $1000) |
2 OAV |
3 % taxable use |
4 Reduced OAV 2 x 3 |
5 LOW COST ASSET (acquired in the current financial year, and cost < $1000) |
6 Cost of LCA |
7 |
8 % taxable use |
9 Reduced cost 6 x 8 |
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Balancing adjustment |
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10 ASSET |
11 Termnvalue |
12 % taxable use |
13 Reduced termn. value 11 x 12 |
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Photocopier |
540 |
100 |
540 |
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Mobile phone |
959 |
100 |
959 |
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Printer |
369 |
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100 |
369 |
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Organiser |
500 |
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100 |
500 |
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ADDITION or IMPROVEMENT (second element) |
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Cost |
% taxable use |
7 x 8 |
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Subtotal |
A 1499 |
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Subtotal |
E 869 |
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Total |
H |
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PLUS closing pool balance from
previous year |
L |
E x 18.75% |
F 163 |
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A + L |
C 1499 |
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Deductible decline in value D + F |
G 725 |
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C x 37.5% |
D 562 |
Closing pool balance (C + E – G – H) |
P 1643 |
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If the
amount at P calculates as negative, include the figure as income at item
22, and make the closing pool balance at P zero.