澳洲CGT on Plant & equipment (Division 40) Depreciation

在澳大利亚税务



Let's say A bought an apartment for 500k and sell it within 12 months for 600k, he claimed 2 type of depreciation below:

Capital works deductions (Division 43)=20k
Plant & equipment (Division 40) Depreciation=10k

So A's capital gain is

(1)600k-500k+20k+10k
(2)600k-500k+20k

Which one is correct? some people said need to add the 10k, while other said don't, it's quite confusing, if any expert can advise, it's greatly appreciated.


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tongwen

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no need to add back div 40, as they are furniture related items.

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只加回capital works就可以

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just need to add back Div 43

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需要加回去的，因为你卖房子的价格也包括了那些设备的

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取决于你的设备是买房子包含的价格还是你买房子后另外加的设备的

如果包含在买房子里的，需要加回去

不包含买房子得，剩余价值要结算到成本里

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When the property is sold, you would be selling the property itself plus all the depreciating assets within the property. These are two separate taxing events.

The sale of the land and buildings will be dealt with under the CGT provisions (eg, CGT event A1) while the sale of the depreciating assets will be dealt with under the balancing adjustment rules in Division 40. Therefore, it will be necessary to undertake separate tax calculations for each of the relevant assets.

The starting point would be to apportion the sale proceeds between the property itself (ie, the land and buildings) and the depreciating assets. This should be done on a reasonable basis and should reflect the relative market values of the assets being sold. In practice it is common for the proceeds to be allocated to the depreciating assets based on their written down value, but this needs to be reasonable in the circumstances. If this is done then there should be no taxable gain or loss in relation to the depreciating assets.

When it comes to calculating the gain or loss on sale of the property itself, you would need to compare the portion of the total proceeds that relates to the property (ie, land and buildings) with the cost base of the property. The cost base would generally need to be reduced by any capital works deductions claimed in relation to the property. If the home first used to produce income rule in section 118-192 has applied to reset the cost base of the property, the market value that is used in this case should only reflect the land and buildings (ie, it should not include the value of any depreciating assets).

If the property was acquired before 13 May 1997 but post-CGT it would not be necessary to reduce the cost base for capital works deductions that have been claimed under Division 43 ITAA 1997 before that time, refer s110-45. For property acquired during the period from 20 September 1985 to 13 May 1997, you only need to exclude capital works deductions that you claimed, or were entitled to claim, from the cost base if they are for a building, other structure or improvements constructed on the property after 30 June 1999.

If you acquired the rental property before 13 May 1997 and the capital works were carried out before 30 June 1999, the cost base does not need to be reduced by the amount of the capital works deductions (special building write-off) that you claimed.


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写个entry 就明白了

Cr profit on sales

Dr accumulation depreciation Div 40
Cr Cost Div 40

Dr accumulation depreciation Div 43
Cr Cost Div 43

Dr Bank

所有Dr减除了profit外的Cr

Bank (600k) -(cost Div 40+ Div 43) (500k) +Accumulation Depreciation Div 43+Div 40 (20k+10k)

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太像我认识的Jeff 了

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你们都被楼主骗了。。楼主的案例根本不成立。。

墨尔本标志性建筑 Eureca 的 Div43 都没有 20K。想啥呢。

Div 40 第一年就 10k 还 with 12 month。。那得多奢侈的 家具哦 。。吓死宝宝了。。。

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still very confuse....

Any qualified accountant can answer?

Div 40 要加回去还是不需要??
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