The video provides the guide on:
- Setting-up a low value pool from a rental properties using LodgeiT depreciation module.
- Creating individual tax return that automatically picked-up "Low value pool deduction" via D6.
WARNING: Please watch the video to see how to handle treatment of a low value pool in an individual tax return. Be sure to watch the whole video as the correct treatment is revealed only at the end.
Please be aware of the form notes:
A deduction for a low-value pool must be included to D6 only. ATO reference
Please note that LVP will not show against the rental, it will only show against the LVP field. You can see this in the form instructions.