About question P10
You only need to complete P10 if you are a small business entity using the simplified depreciation rules. All other entities, go to P12 Small business bonus deductions.
In 2023–24, the instant asset write-off applies to small business entities using the simplified depreciation rules.
For more information, see Small business – $20,000 instant asset write-off.
How to complete P10
To complete this question, you will need the amounts you calculated for small business entity depreciation deductions in Worksheet 2
Step 1: Transfer the amount at row a in Worksheet 2 to P10 – label A. Don't show cents.
Step 2: Add up the amounts at rows b and c in Worksheet 2 and write the total at P10 – label B. Don't show cents.
Write the depreciation deductions at labels A and B, not the pool balances.
Continue to: Small business bonus deductions – P12
Return to: Instructions to complete the BPI schedule 2024