Doing my tax at the moment and have a laptop i purchased for $800 in Sept 2020 and no longer use it- last used was July 2021 (just in the basement i.e not sold)
I plan to use the prime cost method (say i use it 100% work)
Not sure how to do the :
Balancing adjustment offset amount enter dollars and cents
1)I assume the termiinal value is $0 because I haven't sold it. but do i calculate the balancing adjustment offset amount?
2)Also i used the 2 years life as the effective life so i assume for "
Have you self-assessed the effective life for this asset?" I'll just say no?
3)Also my sister has an Investment property and used one of those BMT schedule for depreciation value- where exactly is it inserted into the mygov ATO- under rental just as other expenses?
Thanks first time we're trying to do it ourselves ah