To get it into a rental worksheet on the tax form the user has to link it under Capital Work section.
Need a Depreciation Report for a Rental Property? Click here
Including Depreciation in Individual Tax Return Rental Properties
This video demonstrates methods for Division 40 and Division 43 assets (Capital works) and their relevant depreciation configuration.
TABLE OF CONTENTS
Get Started
Make sure to complete the following information to avoid errors in the forms.
Set-up Depreciation
Before you can add an Asset, you have to set "Depreciation Date"
Go to (client) "Settings", click "Depreciation"
Note: "Depreciation date" is the date when you will start managing your depreciable assets. It will be a minimum opening date for depreciation pools
Creating "Group Asset" for Capital Works Rental
Go to "Tools" and choose "Depreciation"
Click "Add"
Make sure to fill the details correctly, you can choose appropriately from the drop-down options for every box.
Name: (you can name your group whatever you like) Category: Rental properties Type: Other Property Improvements" or "Land & Buildings" or "Leasehold Improvements" (whichever applicable)
Depreciation Report Summary
Add ITR Form
In your Client window, just add "Form" and choose "ITR Individual Tax Return".
Create & Prefill
Select "Year".
"Lodgement Date" is automatic date from ATO, but you can also manage to change it if necessary.
Add Depreciation via Rental
Make sure to turn-on financial image "Rentals" to make this happen.
When you are inside the form, click the four little squares and turn-on "Rentals"
Under the "Income" tab you will see "Rent", select "Add Worksheet"
and fill the property details
Scroll over to the Form where you can see 'Capital works deduction", open the section and click Add Worksheet button.
Using search box you can select a Depreciation Group you want to associate with rental or input data manually.
The data will be automatically injected
Result:
Click "Validate" to find any error in your form.
If the form is ready click 'Complete".
Other Related Article:
Need a Depreciation Report for a Rental Property? Click here
How to Delete Asset Group and Asset
Form Workflow Sequence and E-signature