Non-Residential Property Deduction Schedule (Pre 82 Construction) Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 1
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Non-Residential Property Deduction Schedule (Pre 82 Construction)
Non-Residential Property Deduction Summary Sample Farm Shepparton VIC 3224 Settlement Date
28/01/2010
Purchase Price
$2,400,000.00
Total Expenditure
$2,400,000.00
Total Allowances
$1,039,326.42 ex GST
Important Notes: 1.
Post Purchase Expenditure: This schedule contains an addendum listing post purchase expenditure. These assets
were purchased after settlement and were not included in the original purchase price of the property and are therefore not included in the above calculations. The assets may in some cases have different purchase (start) dates.
2.
Total Post Purchase Expenditure
$26,472.00
Total Post Purchase Allowances
$26,472.00
Pre 1982 Construction: This property does not qualify for building allowance as it was constructed prior to 20th
July 1982, although in some cases renovations, additions or refurbishments may qualify. 3.
Pre-Purchase Renovations: This property contains some pre-purchase renovations which were completed after the
property was constructed. These are listed under the capital works section of the schedule.
Our Guarantee: the above property has been inspected and analysed under ATO guidelines, and all depreciable assets identified, providing you, the investor with the maximum legitimate benefits achievable under current legislation as at the date of inspection.
No doubt you will be delighted by the schedule, so please tell your friends. Thank you for using our services.
Non-Residential Property Deduction Schedule (Pre 82 Construction) Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 2
Schedule No. 17229 / Ref No. 4416
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Important Notes
This schedule details the property depreciation deductions that are eligible for Sample Farm on the property Sample Farm available from 28/01/2010 based on legislation in effect on the 28/12/2009. The calculations used to generate this schedule are derived from formulas provided by the Australian Taxation Office (ATO) and have been prepared by persons deemed suitably qualified by the ATO. The property's construction cost is based on the actual cost incurred in relation to the construction of the building, structural improvements and extensions. Where the new owner is unable to determine precisely the construction expenditure associated with the building, an estimate of construction works has been adopted as per ATO guidelines on Capital Works deductions. All plant listed in this schedule was identified during an on-site inspection and has been valued as an apportionment of the total capital expenditure analysed. This schedule has been prepared based on the understanding that the exclusive ownership of all items of plant is to Sample Farm. If this is not the case, it is the purchaser's responsibility to remove them from this schedule. The depreciation rates used in this schedule are taken from those recommended in legislation at the time the property was acquired. The ATO does not consider land and landscaping as a depreciable asset and therefore does not qualify for depreciation and cannot be claimed. Both the Diminishing Value and Prime Cost depreciation methods have been offered in this schedule. It is the purchaser's responsibility to discuss each with their financial advisor in order to select the most appropriate method. If you hold an asset jointly with others and the cost of your interest in the asset is $300 or less, you can claim the immediate deduction even though the depreciating asset in which you have an interest costs more than $300. As per the ATO's Guide to Depreciating Assets 2008. Immediate Write Off Assets with a cost to the investor equal to or less than $300 can be written off in the year of purchase at 100%. This is only available if the asset or item is not part of a set. Low Value Pooling Assets with a cost of less than $1000 can be written off at a rate of 18.75% in the first year, irrelevant of the days owned, and 37.5% in the subsequent years. Low Value Pooling is only applicable to the Diminishing Value method of depreciation. This schedule was prepared for the exclusive use of Sample Farm for the sole purpose of claiming Property Tax Allowances for the property Sample Farm and is not to be used for any other purpose or to be reproduced without the express written permission of Bell Building Services Pty Ltd .
Non-Residential Property Deduction Schedule (Pre 82 Construction) Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 3
Schedule No. 17229 / Ref No. 4416
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Summary of Capital Expenditure
Division 40 - Decline in Value Deductions on Plant.
The plant listed in this schedule complies with the current list of depreciable assets made available by the Commissioner of Taxation which qualify under Division 40 of the Income Tax Assessment Act 1997. The depreciation rates used are in accordance with legislation current at the date this schedule was produced. $247,988.00
Division 43 - Capital Works Deductions on Building and Infrastructure
Capital works deductions are derived from Division 43 of the Income Tax Assessment Act 1997 deductions for Capital Works. The qualifying expenditure is based on the historical cost of the construction of the asset at the time of construction. If you can claim capital works deductions, the construction expenditure on which those deductions are based cannot be taken into account in working out any other types of deductions you claim, such as deductions for decline in value of depreciating assets. $791,338.42
Balance of Capital Expenditure
This represents all items that do not qualify for capital works deductions or decline in value and any capital works deductions which are already exhausted. Construction expenditure that cannot be claimed (as per ATO guidelines) include; z z z z
land expenditure on clearing the land prior to construction earthworks that are permanent, and are not integral to the construction expenditure on landscaping
$1,360,673.58
Total Expenditure
$2,400,000.00
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 4
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Summary of Property Deductions (DVM) Fiscal Years
Diminishing Value Method Decline in Value Deductions on Plant
28/01/2010-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 2035-2036 2036-2037 2037-2038 2038-2039 2039-2040 2040-2041 2041-2042 2042-2043 2043-2044 2044-2045 2045-2046 2046-2047 2047-2048 2048-2049
$12,312.00
$1,596.38 $2,594.11 $1,621.32 $1,013.32 $633.33 $395.83 $247.39 $154.62 $96.64 $60.40 $37.75 $23.59 $14.75 $9.22 $5.76 $3.60 $2.25 $1.41 $0.88 $0.55 $0.34 $0.21 $0.13 $0.08 $0.05 $0.03 $0.02 $0.01 $0.01 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$15,352.26 $32,475.46 $24,644.28 $19,602.02 $16,158.48 $13,665.31 $11,762.91 $10,247.17 $8,998.81 $7,945.56 $7,041.69 $6,256.85 $5,569.83 $4,965.05 $4,430.57 $3,956.89 $3,536.23 $3,162.06 $2,828.85 $2,531.81 $2,266.81 $2,030.23 $1,818.90 $1,630.02 $1,461.14 $1,310.06 $1,174.86 $1,053.83 $945.45 $848.36 $761.37 $683.41 $613.52 $550.85 $494.64 $444.22 $398.99 $358.40 $321.97 $2,862.86
Capital Work Deductions Building and Infrastructure $9,240.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,062.26 $11,901.44 $2,175.00 $2,175.00 $184.73
Total Deductions (life of property)
$12,312.00
$8,514.00
$227,162.00
$791,338.42
Ownership Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36 Year 37 Year 38 Year 39 Year 40
Tax Year
Immediate Deduction
Low Value Pooling
Diminishing Value
Total Annual Deductions $38,500.63 $56,969.57 $48,165.60 $42,515.35 $38,691.80 $35,961.14 $33,910.31 $32,301.79 $30,995.45 $29,905.95 $28,979.44 $28,180.44 $27,484.57 $26,874.27 $26,336.33 $25,860.49 $25,438.48 $25,063.47 $24,729.72 $24,432.36 $24,167.15 $23,930.45 $23,719.04 $23,530.11 $23,361.19 $23,210.09 $23,074.88 $22,953.84 $22,845.46 $22,748.37 $22,661.38 $22,583.41 $22,513.52 $22,450.85 $22,394.64 $21,506.49 $12,300.43 $2,533.40 $2,496.97 $3,047.58 $1,039,326.42
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 5
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Diminishing Value Depreciation
(Immediate Deduction Assets)
Depreciable Assets
Base Value
Diminishing Value Rate
Decline in Value Deductions For 154 Day(s)
Adjustable Value (WDV) 30/06/2010
Diminishing Value Depreciation as per ATO's, current tax ruling, effective life of depreciating assets.
Immediate Deduction Assets Immediate deduction for assets costing $300 or less, if not part of a set or group. Assets General Heaters Electric, fixed Window Blinds, Internal Fire Control Assets Detection and Alarm Systems Heat and smoke Fire Extinguishers Security and Monitoring Assets Access Control Systems (b) Door Controllers (c) Readers, swipe cards Furniture and Fittings (non residential) Rest Room Fittings Electrical Machinery and Equipment (non-residential) Luminaires (non-residential) Low Voltage Light Units
Total
480.00 3,000.00
100.00 100.00
480.00 3,000.00
432.00 288.00
100.00 100.00
432.00 288.00
405.00 243.00
100.00 100.00
405.00 243.00
3,240.00
100.00
3,240.00
4,224.00
100.00
4,224.00
12,312.00
12,312.00
0.00
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 6
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Diminishing Value Depreciation
(Low-value Pool Assets)
Depreciable Assets
Base Value
Diminishing Value Rate
Decline in Value Deductions For 154 Day(s)
Adjustable Value (WDV) 30/06/2010
Diminishing Value Depreciation as per ATO's, current tax ruling, effective life of depreciating assets.
Low Value Pool Assets Assets costing $1,000 or less depreciate at 18.75% in the first fiscal year (irrespective of days held) and at 37.5% for each subsequent year. Assets General Ceiling Fans Bathroom Assets Exhaust Fans (including light/heating) Outdoor Assets Swimming Pools (b) Cleaning Security and Monitoring Assets Access Control Systems (a) Code Pads Electrical Machinery and Equipment (non-residential) Luminaires (non-residential) Flood Lighting Units High Bay Lighting Units
Total
1,440.00
18.75
270.00
1,170.00
1,680.00
18.75
315.00
1,365.00
630.00
18.75
118.13
511.88
972.00
18.75
182.25
789.75
1,632.00 2,160.00
18.75 18.75
306.00 405.00
1,326.00 1,755.00
1,596.38
6,917.63
8,514.00
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 7
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Diminishing Value Depreciation
Depreciable Assets
Diminishing Value Depreciation as per ATO's, current tax ruling, effective life of depreciating assets. Assets General Air Conditioning Mini Split System (Up to 20KW) Floor coverings (removable without damage) Floating Timber Floor Heaters Gas, fixed Hot Water Installation Electric Kitchen Assets Stoves Outdoor Assets Sauna Heating Assets Swimming Pools (a) Chlorinator (c) Filtration (Incl Pumps) Pool Heaters, electric or gas Security and Monitoring Assets Closed circuit television systems (a) Code Pads (b) Monitors (c) Recorders, digital (d) Switching units (incl multiplexes) Office Equipment Piped Music and Paging (non residential) Electrical Machinery and Equipment (non-residential) Electrical Distribution Equipment (non-residential) Electrical Circuit Breaker Board Electrical Sub Mains Cabling Electrical Mains Cabling
Base Value
Diminishing Value Rate
Decline in Value Deductions For 154 Day(s)
Adjustable Value (WDV) 30/06/2010
4,800.00
20.00
405.04
4,394.96
3,780.00
13.33
212.59
3,567.41
6,600.00
13.33
371.19
6,228.81
5,760.00
16.67
405.12
5,354.88
1,932.00
16.67
135.88
1,796.12
1,200.00
13.33
67.49
1,132.51
1,050.00 2,520.00 4,320.00
16.67 16.67 13.33
73.85 177.24 242.96
976.15 2,342.76 4,077.04
3,400.00 11,900.00 6,800.00 11,900.00
50.00 50.00 40.00 40.00
717.26 2,510.41 1,147.62 2,008.33
2,682.74 9,389.59 5,652.38 9,891.67
1,800.00
20.00
151.89
1,648.11
14,400.00 65,000.00 80,000.00
10.00 10.00 10.00
607.56 2,742.47 3,375.34
13,792.44 62,257.53 76,624.66
Total
227,162.00
15,352.26
211,809.74
Grand Total
247,988.00
29,260.63
218,727.37
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 8
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Summary of Property Deductions (PC) Fiscal Years
Prime Cost Value Method Decline in Value Deductions on Plant
Ownership Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36 Year 37 Year 38 Year 39 Year 40
Tax Year 28/01/2010-2010 2010-2011 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 2029-2030 2030-2031 2031-2032 2032-2033 2033-2034 2034-2035 2035-2036 2036-2037 2037-2038 2038-2039 2039-2040 2040-2041 2041-2042 2042-2043 2043-2044 2044-2045 2045-2046 2046-2047 2047-2048 2048-2049
Total Deductions (life of property)
Immediate Deduction
Prime Cost
$12,312.00
$8,068.60 $19,123.62 $19,123.62 $19,123.62 $17,509.78 $13,517.11 $11,076.22 $11,038.51 $10,986.25 $10,986.25 $10,636.91 $10,158.25 $9,766.95 $9,220.13 $9,220.13 $8,764.72 $8,159.60 $8,159.60 $8,159.60 $8,159.60 $4,716.92
$12,312.00
$235,676.00
Capital Work Deductions Building and Infrastructure $9,240.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,062.26 $11,901.44 $2,175.00 $2,175.00 $184.73 $791,338.42
Total Annual Deductions $29,620.60 $41,023.62 $41,023.62 $41,023.62 $39,409.78 $35,417.11 $32,976.22 $32,938.51 $32,886.25 $32,886.25 $32,536.91 $32,058.25 $31,666.95 $31,120.13 $31,120.13 $30,664.72 $30,059.60 $30,059.60 $30,059.60 $30,059.60 $26,616.92 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,900.00 $21,062.26 $11,901.44 $2,175.00 $2,175.00 $184.73 $1,039,326.42
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 9
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Prime Cost Depreciation
(Immediate Deductions Assets)
Depreciable Assets
Base Value
Prime Cost Rate
Decline in Value Deductions For 154 Day(s)
Adjustable Value (WDV) 30/06/2010
Prime Cost Depreciation as per ATO's, current tax ruling, effective life of depreciating assets.
Immediate Deductions Assets Immediate deduction for assets costing $300 or less, if not part of a set or group. Assets General Heaters Electric, fixed Window Blinds, Internal Fire Control Assets Detection and Alarm Systems Heat and smoke Fire Extinguishers Security and Monitoring Assets Access Control Systems (b) Door Controllers (c) Readers, swipe cards Furniture and Fittings (non residential) Rest Room Fittings Electrical Machinery and Equipment (non-residential) Luminaires (non-residential) Low Voltage Light Units
Total
480.00 3,000.00
100.00 100.00
480.00 3,000.00
432.00 288.00
100.00 100.00
432.00 288.00
405.00 243.00
100.00 100.00
405.00 243.00
3,240.00
100.00
3,240.00
4,224.00
100.00
4,224.00
12,312.00
12,312.00
0.00
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 10
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Prime Cost Depreciation
Depreciable Assets
Prime Cost Depreciation as per ATO's, current tax ruling, effective life of depreciating assets. Assets General Air Conditioning Mini Split System (Up to 20KW) Ceiling Fans Floor coverings (removable without damage) Floating Timber Floor Heaters Gas, fixed Hot Water Installation Electric Bathroom Assets Exhaust Fans (including light/heating) Kitchen Assets Stoves Outdoor Assets Sauna Heating Assets Swimming Pools (a) Chlorinator (b) Cleaning (c) Filtration (Incl Pumps) Pool Heaters, electric or gas Security and Monitoring Assets Access Control Systems (a) Code Pads Closed circuit television systems (a) Code Pads (b) Monitors (c) Recorders, digital (d) Switching units (incl multiplexes) Office Equipment Piped Music and Paging (non residential) Electrical Machinery and Equipment (non-residential) Luminaires (non-residential) Flood Lighting Units High Bay Lighting Units Electrical Distribution Equipment (non-residential) Electrical Circuit Breaker Board Electrical Sub Mains Cabling Electrical Mains Cabling
Base Value
4,800.00 1,440.00
Decline in Value Deductions For 154 Day(s)
Prime Cost Rate
10.00 20.00
202.52 121.51
Adjustable Value (WDV) 30/06/2010
4,597.48 1,318.49
3,780.00
6.67
106.38
3,673.62
6,600.00
6.67
185.74
6,414.26
5,760.00
8.33
202.44
5,557.56
1,680.00
10.00
70.88
1,609.12
1,932.00
8.33
67.90
1,864.10
1,200.00
6.67
33.77
1,166.23
1,050.00 630.00 2,520.00 4,320.00
8.33 14.28 8.33 6.67
36.90 37.96 88.57 121.57
1,013.10 592.04 2,431.43 4,198.43
972.00
20.00
82.02
889.98
3,400.00 11,900.00 6,800.00 11,900.00
25.00 25.00 20.00 20.00
358.63 1,255.21 573.81 1,004.16
3,041.37 10,644.79 6,226.19 10,895.84
1,800.00
10.00
75.95
1,724.05
1,632.00 2,160.00
5.00 5.00
34.43 45.57
1,597.57 2,114.43
14,400.00 65,000.00 80,000.00
5.00 5.00 5.00
303.78 1,371.23 1,687.67
14,096.22 63,628.77 78,312.33
Total
235,676.00
8,068.60
227,607.40
Grand Total
247,988.00
20,380.60
227,607.40
Non-Residential Property Deduction Schedule Prepared For Sample Farm Property Sample Farm Shepparton VIC 3224
Page 11
PH 03 9781 1113 Property Returns *our reports are ATO approved* registered tax agents
Schedule No. 17229 / Ref No. 4416
Capital Works Deductions Capital Works Deductions (Building) Construction Date Start
Construction Date Completion
Total
Historical Construction Cost
Deduction Rate
0.00
Annual Deduction
Opening Value 28/01/2010
0.00
0.00
Total Capital Deduction For 154 Day(s)
0.00
Adjustable Value (WDV) 30/06/2010
0.00
Capital Works Deductions (Structural Improvements) Construction Date Start
Construction Date Completion
01/08/08 01/03/06 01/12/05 01/10/05 01/02/05
01/08/08 01/03/06 01/12/05 01/10/05 01/02/05
Historical Construction Cost 87,000.00 477,000.00 91,000.00 140,000.00 81,000.00
Total Grand Total
Deduction Rate
2.5% 2.5% 2.5% 2.5% 2.5%
Annual Deduction
Opening Value 28/01/2010
Total Capital Deduction For 154 Day(s)
Adjustable Value (WDV) 30/06/2010
2,175.00 11,925.00 2,275.00 3,500.00 2,025.00
83,752.40 430,312.81 81,532.26 124,849.32 70,891.64
917.67 5,031.37 959.86 1,476.71 854.38
82,834.73 425,281.44 80,572.40 123,372.60 70,037.26
876,000.00
21,900.00
791,338.42
9,240.00
782,098.42
876,000.00
21,900.00
791,338.42
9,240.00
782,098.42