Setting up the Capital Allowance Asset Pools

In the first period of using this application, it will be necessary to setup asset pools for short-life assets, cars, industrial and agricultural buildings, research and development and business premises renovation.

In addition, any opening balances for pre-existing pools will need to be entered.

1. Enter the Capital Allowances worksheet as shown below.

2. Enter the WDV b/fwd for Plant & machinery pools.

3. Enter the descriptions for any Short-life asset pools.

Select Yes to add a new asset and select No to enter an existing one.

4. Continue to work through all remaining sections, setting up pools as required.

The steps can be replicated for the remaining pools.