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How to calculate closing pool balance for 2020–21.

Last updated 26 May 2021

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.

QC64728