1, ) Press "Settings > Depreciation"

2. Make sure to sure to tick option "Use Simplified depreciation rules (only for SBE)"

- We've changed the logic for Small Business Entities. As per ATO rules if it's SBE than 6X must be equal to sum of 10 A+B and there is no need for reconciliation. Learn more from the ATO


The depreciation expenses of small business entities using the simplified depreciation rules need to be written as tax values at 6X Depreciation expenses. This value should be equal or greater than sum of 10A Deduction for certain assets and 10B Deduction for general small business pool. No need to complete 7W and 7F in this case. Link from the ATO : https://www.ato.gov.au/Forms/Company-tax-return-instructions-2020/?page=11#XDepreciationexpenses

Related Guides:

SBE and Motor Vehicle Depreciation