Worksheet 2
Row
|
Closing balance for 2020–21
|
Amount
|
j
|
Transfer amount from row a in worksheet 1.
|
$
|
k
|
Transfer amount from row b in worksheet 1.
|
$
|
l
|
Transfer amount from row e in worksheet 1.
|
$
|
m
|
Transfer amount from row f in worksheet 1.
|
$
|
n
|
Add rows j, k, l and m.
|
$
|
o
|
Transfer amount from row i in worksheet 1.
|
$
|
p
|
Take row o away from row n.
|
$
|
q
|
For each pool asset subject to a balancing adjustment event in 2020–21, multiply its termination value by your taxable use percentage for the asset (see step 2 above). Add up the amounts and write the total here.
|
$
|
r
|
Take row q away from row p.
|
$
|
The amount at r is your closing pool balance for 2020–21. You will need it to calculate your low-value pool deduction for 2021–22.
This question is about claiming a deduction for the decline in value of low-cost and low-value assets you used in the course of producing income.