tax schedule and depreciation

sydney1

麻烦请教下面两个问题

1.总是听人说yearly company income tax schedule, 这是什么东西，有没有人能发一个给我看一下

2.二手设备或者车怎么做折旧呀

谢谢啦

sydney1

自己顶啦，谢谢

JohnnySu

There are many schedules attached with the company tax returns- Depreciation, property, franking account, loss schedule,R&D etc.

2nd car is depreciated the same way as new cars.

sydney1

taxbreak 发表于 2012-9-17 10:21
There are many schedules attached with the company tax returns- Depreciation, property, franking acc ...

many many thanks

sydney1

taxbreak 发表于 2012-9-17 10:21
There are many schedules attached with the company tax returns- Depreciation, property, franking acc ...

还有一个问题关于二手车折旧，如果是已经很老的车或者设备或者投资房了，还是按照新的折旧吗，会不会二手的车/设备/投资房已经全部折旧完了，谢谢啦

JohnnySu

sydney1 发表于 2012-9-17 10:39
还有一个问题关于二手车折旧，如果是已经很老的车或者设备或者投资房了，还是按照新的折旧吗，会不会二手 ...

You can depreciate the cost.  e.g. you bought a 2nd hand car for $2000 you depreciated that $2000 over 8 years.

3IX37

taxbreak 发表于 2012-9-17 12:08
You can depreciate the cost.  e.g. you bought a 2nd hand car for $2000 you depreciated that $2000  ...

I think u r only partially right.

I believe the balance adjustment event rule should apply. For example, if the previous owner bought the car new, and had depreciated for 6 years.

The effective life should be reassessed, which should reasonably be around 2 years, and depreciating it over the newly assessed effective life.

On the other hand, the selling should also comply the balance adjustment rule by including the excess as assessable income or shortfall as deduction.

lee2267

I believe the balance adjustment event rule should apply. For example, if the previous owner bought the car new, and had depreciated for 6 years.--纯理论。。谁会告诉你之前做老年啊。。
如果2手车是agent 卖的。。Opening value 就差不多合同价。。8年折旧。。
如果2手车是个人买卖的。。看 vic 的 report。。有时候买卖价格绝对低于市场价格。vic 会出 mkt value价格。让你补交stamp duty。。这个时候我们用 vic road的 mktv alue作为opening value。。

On the other hand, the selling should also comply the balance adjustment rule by including the excess as assessable income or shortfall as deduction.--正解。。…^_^

JohnnySu

3IX37 发表于 2012-9-18 21:59
I think u r only partially right.

I believe the balance adjustment event rule should apply. For e ...

Balancing adjustment is never to be calculated by buyers.... I dont know where you read this from.

3IX37

taxbreak 发表于 2012-9-18 22:35
Balancing adjustment is never to be calculated by buyers.... I dont know where you read this from. ...

You are right that it is usually calculated by seller, but dont you think it would be much better off for the buyer depreciate it over 2 years instead of 8 ? (info is refered to the example above)

the balance of effective life can be easily calculated based on the year on the rego, it is readily available to the buyer.

And in theory, if the car is older than 8 years, the buyer can deduct the whole buying cost immediately as balance adjustment, instead of depreciate it over 8 years. (no legislation would say it is wrong treatment, would it?) Wether the seller did the corresponding adjustment or comply subdiv40-D is not our concern.

What do you think? :)

3IX37

lee2267 发表于 2012-9-18 22:20
I believe the balance adjustment event rule should apply. For example, if the previous owner bought  ...

Thanks for your feedback, and you are right about it is theory. But you are not so right about that it is difficultto find the balance effective life. Dont forget the rego.

Forget about what happy before the car is bought, if the car rego stick shows it is 2000 year car, it should have been fully depreciated. Whatever u bought, should be deductible as bal adj, shouldnt it? :)

lee2267

Forget about what happy before the car is bought, if the car rego stick shows it is 2000 year car, it should have been fully depreciated. Whatever u bought, should be deductible as bal adj, shouldnt it? --Could Be...^_^...