I have got an investment property and trying to complete the tax return myself through e-tax.
I am using diminishing value method. The depreciation schedule has got 3 items as follows:
1) Depreciation Pland and Equipment: $2,647
2) Low Value Pool Items: $444
3) Capital works deductions: $162
--------------
Total: $3,254
I believe that 1) needs to be claimed under item I in the rental property schedule in e-tax. Similarly 3) needs to be claimed under item R) in the rental property schedule.
I believe that 2) needs to be claimed under D6 in low value pool deduction. But I am not sure how to complete the Low value pool worksheet provided by e-tax. I am finding it quite confusing. All I want to do is to enter the amount provided in my depreciation schedule.
Any help/suggesiton is appreciated.
Thanks,
Vish
I am using diminishing value method. The depreciation schedule has got 3 items as follows:
1) Depreciation Pland and Equipment: $2,647
2) Low Value Pool Items: $444
3) Capital works deductions: $162
--------------
Total: $3,254
I believe that 1) needs to be claimed under item I in the rental property schedule in e-tax. Similarly 3) needs to be claimed under item R) in the rental property schedule.
I believe that 2) needs to be claimed under D6 in low value pool deduction. But I am not sure how to complete the Low value pool worksheet provided by e-tax. I am finding it quite confusing. All I want to do is to enter the amount provided in my depreciation schedule.
Any help/suggesiton is appreciated.
Thanks,
Vish