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This Tax worksheet provides assistance in the calculation of reconciliation of accounting to taxable income. It is provided at the Business item for Individuals, Trusts and Partnerships.

Integration of depreciation expenses is provided in the Depreciation worksheet (d).

Integration of Capital Works Deductions is not available.

Small Business Entities: Access to the Depreciation Worksheet is available for taxpayers not using the simplified depreciation rules from the following fields:

  • Accrual amount deduction for lessee of luxury cars, and

  • Deduction for decline in value of depreciating assets for Low value pool deductions related to Primary Production and Non-Primary Production income.

 

Integration of amounts to the main returns are:

Individual return

Partnership and Trust return

Income reconciliation adjustments

Label X 

Label A 

Expense reconciliation adjustments

Label H

Label B

Environmental protection expenditure

Label V

n/a

Section 40-880 deduction

Label A

n/a

Business deductions for project pools

Label L

n/a

Deductions for landcare operations and water facilities, fencing assets and fodder storage

Label W 

n/a